Tom MacDonald - Reverse Mortgage Consultant

     

 

 

 

 

       Reverse Mortgage Consultant

      Tom MacDonald

 

       707-265-6385      800-801-5727   Is This The Best Reverse Mortgage Website in the U.S.*

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2016 Reverse Mortgage Update and Considerations

FHA Home Value Limits - Effective 1/1/2016. 

Late last year, HUD extended the expiration date of the FHA limit to 12/31/2016.  (In February, 2009, the FHA limit - the amount of the home value considered in the benefit calculation - was increased from $417,000 to $625,500.)  It was due to expire at the end of 2009.  It has been extended one year at a time each year since then.  The industry is expecting this limit to be reduced and not extended again at some time in the future.