My last post was a quick description of FHA backed reverse mortgages and what do I find today? An article about all of the folks benefiting from reverse mortgages.

Since 1990, more than 308,000 senior homeowners have used HUD’s reverse mortgage program, which covers almost 90% of the reverse mortgage market, to borrow against the equity in their homes, making cash readily available to cover necessary expenses. There has been a 10-fold increase in the number of reverse mortgage loans backed the FHA between 2000 and 2006.

Sure, FHA may have struggled in recent years with its low share in the traditional home loan market, but as far as reverse mortgages go, it is total domination. Or 90% domination, for that matter.

This entry was posted on Thursday, June 21st, 2007 at 3:01 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.