Reverse Mortgage laws in Texas and across the nation have recently changed, so experience is crucial to navigating through the details of a reverse mortgage and determining what plan of action is.
Texas Reverse Mortgages. Of the 254 counties in Texas almost all have fha limits set right around the national average. A few have higher limits-those around San Antonio, and around Austin the limits are just slightly elevated. texas HUD Lenders Close to 95% of reverse mortgage borrowers end up with a.
Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage insured by the U.S. Federal Government is called a Home equity conversion mortgage (HECM), and is only available through an FHA-approved lender.
CIT Group’s exit from the reverse mortgage business is now complete. He is a graduate of University of North Texas..