For Release:
Annie Mac has introduced the Reverse Mortgage Certification interally today. This is a process by which those licensed mortgage bankers within the Annie Mac community are able to learn and master the reverse mortgage program.
If you are interested in learning more, please contact us at http://benstucker.annie-mac.com or http://reverse.annie-mac.com.
Thank you,
Ben Stucker
1/24/2012
Reverse Mortgage - Site Condo
In the recent past, HUD has initiated several changes with all guidelines. Perhaps one of the most challenging has been the removal of spot condo approvals. Yet, there is still hope for those homeowners over 62, living in a condo, and looking for a reverse mortgage. Specifically, home owner associatiations can obtain HUD approved status by providing specific documents to the lender.
Should you be lucky enough to live in a site condo, congratulations, you will not need HUD approval. Despite the word "condo" in the name, a site condo is treated similarly to a standard single family detached home when it comes to reverse mortgages.
I bring this up because I have recently completed my 4th referral transaction in a site condo development named Elmtown East in Hammonton, NJ.
Have a great day and please be sure to review our updated reverse website: http://www.annie-mac.com/reverse or contact me 856-505-6603.
Should you be lucky enough to live in a site condo, congratulations, you will not need HUD approval. Despite the word "condo" in the name, a site condo is treated similarly to a standard single family detached home when it comes to reverse mortgages.
I bring this up because I have recently completed my 4th referral transaction in a site condo development named Elmtown East in Hammonton, NJ.
Have a great day and please be sure to review our updated reverse website: http://www.annie-mac.com/reverse or contact me 856-505-6603.
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