December 27th, 2012 1:23 PM by Juan Luis Rodriguez-Kohly
It Happened!
FHA will announce shortly the suspension of the Standard Fixed Rate Reverse Mortgage effective January 31, 2013. The suspension is for a still undetermined period of time.
This does not affect the Saver Fixed or the Standard or Saver Adjustable rate Plans.
The “Saver” Plans, Fixed or Adjustable, have a lower Closing Cost, but the procceds to the Borrower are much lower than the “Standard” Plan.
If you were postponing doing a Reverse Mortgage, DON’T wait any longer. Call me now. 786-262-6486 or RodKohly@Gmail.com
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