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Items Tagged with 'reverse mortgage program'

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FHA issues new reverse mortgage rules to protect spouses

Designed to allow non-borrowing partners to remain in home
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.
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FHA needs $1.7B bailout

Decline in FHA endorsement volume leads to shortfall
The Federal Housing Adminstration will require a $1.7 billion bailout from the Treasury to cover projected losses in mortgage-related programs, officials told Congress in a letter Friday.
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