Ft Lauderdale, FL – February 13, 2015 – Reverse Mortgage education leader Reverse Mortgage Space has developed and implemented a virtual guide to help Senior homeowners navigate the financial assessment changes implemented by the Department of Housing and Urban Development(HUD).
The financial assessment is detailed by HUD through Mortgagee Letter 2014-22 published in November 2014. For borrowers who do not demonstrate their willingness to meet their loan obligations, life expectancy set-asides—full or partial—will be required.
“The new guide will be a user friendly manual that is not only easy to understand, but extremely educational to the Senior homeowner(s),” said Donald Gigantino, Vice-President of Operations for Reverse Mortgage Space. “The new changes have made a one time easy program to qualify for, into a very complicated product,” added Gigantino. “More senior homeowner(s) are inquiring about the program to understand and help ease the burden of increased living costs,” said Gigantino.
The Reverse Mortgage Guide will be available both electronically as well as through paperback and is available at no cost to the Senior homeowner(s).
Reverse Mortgage Space is an industry leader on education and information as it applies to the reverse Mortgage sector. Their mission is to provide homeowners with the opportunity to educate themselves on the Reverse Mortgage program at no obligation or cost to them. Most senior homeowners are unaware of the options afforded to them with regards to the Reverse Mortgage program as well as financial implications or liabilities that go along with the Reverse Mortgage program. Reverse Mortgage Space offers an un-biased opinion as well as some tools to help senior homeowners understand their options that are available to them.
“Education and Information is a goal that many senior homeowner(s) crave in todays ever changing mortgage market,” said Gigantino. “To understand all of the new changes implemented by HUD on the Reverse Mortgage program, is something even the most seasoned mortgage professionals are struggling with, let alone the average consumer who only may look into a mortgage once every 5 years or so,” added Gigantino. “The new Reverse Mortgage Guide, will streamline the educational process,” said Gigantino.
For more information and to find out if a Reverse Mortgage is a good option for you or your family member, reaching Reverse Mortgage Space is strongly recommended.
Media Contact
Company Name: Reverse Mortgage Space
Contact Person: Mike Benhayon
Email: Send Email
Phone: 800 745 2130
Address:3000 Northeast 30th Place #103
City: Fort Lauderdale
State: FL
Country: United States
Website: http://reversemortgagespace.com
Source: www.abnewswire.com