Tag Archives: HUD

The New HUD “Qualified Mortgage”

HUD is proposing a major change in what constitutes a “Qualified Mortgage (i.e. the QM). These new requirements, according to the definition, will change mortgages to require periodic payments, have terms not to exceed 30 years, be insured or guaranteed by FHA or HUD and will limit upfront fees and points to no more than

This Is Not Your Father’s Reverse Mortgage Program

Senior couple meeting architect for building project

Would you like a somewhat simplified explanation of what a reverse mortgage is? Essentially, a reverse mortgage is a Home Equity Line of Credit (HELOC) for seniors where the bank agrees to be patient.  In other words, the bank agrees not to require any monthly mortgage payments for as long as either the husband or