Articles and news about FHA loans and HUD requirements. FHA loans are great for first-time homebuyers.

Category Archives: Home Equity Conversion Mortgage

Who Owns My Mortgage?

There are many reasons why you might need to take steps to learn who owns your mortgage loan. When you apply for a home loan at the lender of your choice, that financial institution “owns” your loan. But things can ...

Prison Time For Reverse Mortgage Scammers

From time to time, we report news of housing scams that can affect FHA borrowers. It’s a way of raising the awareness that such scams exist, a reminder of the necessity of being careful in the loan process. The latest ...

FHA Requirements for Home Equity Conversion Mortgages

Home Equity Conversion Mortgages, or HECM for short, are designed to help qualified borrowers take out an FHA guaranteed loan against the equity built up in their property. They are intended for a specific segment of homeowner; FHA requirements for HECM loans include an age-specific restriction, plus qualifying ownership status, and restrictions on the type of property that can be used for a Home Equity Conversion Mortgage.