FHA issues new reverse mortgage rules to protect spouses

SOURCE: Mortgage News Feed

The U.S. Department of Housing and Urban Development and the Federal Housing Administration announced changes to its reverse mortgage program designed to keep non-borrowing spouses in their homes after the last surviving borrower dies. Earlier this year, the FHA released new guidance that allows FHA-approved lenders to delay foreclosure proceedings against non-borrowing spouses in the event of the death of the last surviving borrower.

To read the entire article, please visit: http://www.housingwire.com/articles/34179-fha-issues-new-reverse-mortgage-rules-to-protect-spouses


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