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Loan Modification

: Mortgage Lender Implode-o-Meter

HECMs Stuck in Reverse. HUD Considers "Two Product" Solution

By Implode-Explode Heavy Industries

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"Hoping to avoid another era of unscrupulous lending to unqualified borrowers, lawmakers and consumer advocacy groups have expressed concerns that the country's elderly population may become the next target for mortgage scams disguised in the form of reverse mortgages, which in FHA parlance are known as Home Equity Conversion Mortgages (HECMs)."

Full post as published by Mortgage Lender Implode-o-Meter on July 22, 2010 (boomark / email).

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