HECM Rules Allow Spouses Of Reverse Mortgage Borrowers To Remain In The Home

HECM Rules Allow Spouses Of Reverse Mortgage Borrowers To Remain In The Home

FHA announced changes to its HECM aka reverse mortgage program two years ago. Yet, many people are unaware that this change allows non-borrowing spouses to stay in their homes after the last surviving borrower dies.

FHA released new guidance earlier this year allowing FHA-approved lenders to delay foreclosure proceedings against non-borrowing spouses. Non-borrower spouses will be allowed to stay in the home in the event of the death of the borrower.

Read more at HECM Rules

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