Larkspur, CA (PRWEB) December 10, 2011 The U.S. Dept of Housing and Urban Development (HUD) recently released Mortgagee Letter 2011-39, which states that the current FHA lending limit of $ 625,500 for Home Equity Conversion Mortgages (HECMs or reverse mortgages) will continue through Dec. 31, 2012. This is wonderful news for borrowers who trying to purchase or refinance in high-cost areas, according to Sue Drawdy, a reverse loan specialist.
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