Reverse Mortgage (HECM) Information | FHA & HUD Information
May 2, 2010 by
Filed under reverse mortgage
An OmniHome Reverse Mortgage (www.omnireverse.com) is fully insured and guaranteed by the Federal Housing Administration, which is part of the US Department of Housing and Urban Development. The FHA tells OmniHome how much they can lend you, based on your age and the value of your home. The program limits your loan costs, and the FHA guarantees that lenders will meet their obligations. And with a Reverse Mortgage, there’s no repayment necessary as long as you stay in your home. Remember, the beauty of a Reverse Mortgage from OmniHome is that you stay in your home. There’s no moving away to a nursing home, no living in an assisted care apartment. You live in your own home; you keep the title to your home. So give yourself some peace of mind, and give my friends at OmniHome a call at (877) 944-OMNI.
yah the fha limits the cost to 4% plus, title and escrow fees. 2 percent insurcance, and 2 percent lender fee. It is a good loan for the right person, but it is defenetily not for everyone.