In Nyc, there are 2 sorts of reverse mortgage loans offered to older individuals

In Nyc, there are 2 sorts of reverse mortgage loans offered to older individuals

The first, known as a HECM reverse mortgage (or 280-b), is a mortgage loan that is produced in accordance into the criteria of the home Equity Sales Financial program work by the Government Houses Management. HECMs may be the just reverse mortgages insured by the Authorities. Another, named an exclusive reverse home loan, was an interest rate which is manufactured in conformity towards the criteria of new York’s Real estate Rules Area 280, otherwise 280-good. อ่านเพิ่มเติม