The OIG recommended that HUD “implement controls to prevent or mitigate instances of borrowers violating HECM program residency requirements by concurrently participating in the Voucher program,” ...

Steve Irwin, the president of the National Reverse Mortgage Lenders ... a full review of the new requirements. “As with any new policy guidance issued by HUD, NRMLA’s HUD Issues Committee ...

Remember: You must attend a HUD counseling session administered by an approved ... and lose your home to foreclosure if you don’t meet certain requirements. A single-purpose reverse mortgage is a ...

In January 2025 the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2025-06 revising servicing and claims ...

They may have different loan amounts, terms, and eligibility requirements, and many allow for borrowers as young as 55 in some cases. Proprietary reverse mortgages can exceed the HUD limits ...

How to decide if a reverse mortgage is right for you Fact checked by Betsy Petrick A reverse mortgage is a loan you take out on your home, similar to a second mortgage. Homeowners age 62 or older are ...

The U.S. Department of Housing and Urban Development (HUD) has issued Mortgagee Letter 2025-09, which updates the residency requirements for ...

The primary requirements for a reverse mortgage include ... it's typically a good idea to consult a financial advisor or HUD-approved counselor to fully understand how a reverse mortgage fits ...

among other requirements that depend on the lender and loan type. Attend a mandatory counseling session. Before you can apply, you’re required to meet with a HUD-approved reverse mortgage ...

The Department of Housing and Urban Development (HUD) terminated some mortgages for illegal immigrants in an effort to ensure federal home loans don't go to those living in the U.S. illegally.