State- and D.C.-level laws, statutes, and codes pertaining to reverse mortgages Fact checked by Melody Kazel Reviewed by Doretha Clemon In addition to federal laws regulating reverse mortgage ...

Cooperatives represent 75% of the apartments in New York City, creating a significant disparate treatment of senior co-op owners seeking a reverse mortgage. Effective May 30, 2022, a law sponsored ...

Hesitant to sign up for a reverse mortgage? CNBC Select outlines the alternatives, including refinancing and home equity loans.

Proprietary reverse loans are typically available to a larger range of borrowers and come with higher loan limits than the ...

Before starting a reverse mortgage, seniors must receive federally ... Odette Williamson, an attorney with the National Consumer Law Center, said her group is working with Congress and HUD to ...

One way to do that? Reverse mortgages. Reverse mortgages are a creature of federal law. As part of the Housing and Community Development Act of 1987, the Federal Housing Administration (FHA ...

Several states have also passed laws to control reverse mortgage advertising. Despite these rules, the Consumer Financial Protection Bureau (CFPB) has raised concerns regarding reverse mortgage ...

The economy has been somewhat of a mixed bag recently. Some have struggled to keep up with high inflation and high interest rates, while others have benefitted from a rising stock market and real ...

Many of the players from the subprime disaster have now moved into the reverse mortgage market. Last fall, the National Consumer Law Center issued “Subprime Revisited,” an extensive report on ...

Reverse mortgage professionals in Illinois will soon be required to abide by the state’s new laws governing Home Equity Conversion Mortgages (HECMs) beginning January 1, 2016.

Then-President Ronald Reagan signed the Housing and Community Development Act into law in 1988, marking the establishment of the modern reverse mortgage. The year when the first FHA-insured HECM ...