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Thanks for the great article. Yes, RM requirements have
Posted by  MW/VA of VA on 7/22/19 1:20pm Msg #608602
changed. They have to qualify (prove they have enough income to cover taxes, insurance, etc.), are limited on the amt. of money that can be drawn out the 1st year. These safeguards had to built in because of all those situations where people lost their homes because they couldn't keep up with taxes & insurance.
While I've never heard the term "LESA" before, I do understand the concept. Thanks again for the great info.
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Messages in this Thread
 After years of Reverse Mortgages, I am now seeing LESA's pop -  Scriba/NM on 7/21/19 7:11pm
 Re: After years of Reverse Mortgages, I am now seeing LESA - Art_FL on 7/22/19 9:10am
 Thanks for the great article. Yes, RM requirements have -  MW/VA on 7/22/19 1:20pm
 Re: After years of Reverse Mortgages, I am now seeing LESA -  Amigoaz on 7/22/19 5:03pm
 I had one yesterday - the person owed 6 years of back taxes. -  Scriba/NM on 7/23/19 2:19pm



 
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