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HECM for Purchase

HUD Seeks Comment on Proposed Notice to Change HECM for Purchase Program to Expand Funding Sources and Interested Party Contributions

November 3, 2023 By Anoush Garakani and Gloria Han

A&B Abstract: On October 24, 2023, the U.S. Department of Housing and Urban Development (“HUD”) published, for public comment, a Federal Register Notice (“Proposed Notice”) to implement changes to the Federal housing Administration’s (“FHA”) Home Equity Conversion Mortgage (“HECM”) for Purchase program. The Proposed Notice expands the list of acceptable funding sources and permits additional […]

Filed Under: Department of Housing and Urban Development (HUD), HUD, Mortgage Loans, Reverse Mortgages Tagged With: #HECM, FHA, HECM for Purchase, Home Equity Conversion Mortgage, HUD, Reverse Mortgages

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