Reverse Mortgage HECM Limits Extended Until 12/31/13
HECM Loan limits are extended until 12/31/13 and will hold at 625,500.00. This is a much needed extension vital for the recovery of our economy and for seniors to age in place.
Unknown to most individuals there is a limit on the number of FHA insured reverse mortgages that can be generated each year nationwide. Fortunately Congress does lift this cap year after year as it based on current numbers the Cap would be reached by February.