Comments on: HUD Publishes Clarification of Non-Recourse Policy For HECMs http://reversemortgagedaily.com/2008/12/09/hud-publishes-clarification-of-non-recourse-policy-for-hecms/ Reverse Mortgage News and Information Fri, 10 Feb 2012 19:11:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: HUD Rescinds Reverse Mortgage Recourse Guidance Following AARP Lawsuit | | Mortgage WorkMortgage Work http://reversemortgagedaily.com/2008/12/09/hud-publishes-clarification-of-non-recourse-policy-for-hecms/comment-page-1/#comment-47822 HUD Rescinds Reverse Mortgage Recourse Guidance Following AARP Lawsuit | | Mortgage WorkMortgage Work Fri, 08 Apr 2011 13:00:16 +0000 http://reversemortgagedaily.com/2008/12/09/hud-publishes-clarification-of-non-recourse-policy-for-hecms/#comment-47822 [...] HUD Publishes Clarification of Non-Recourse Policy For HECMs [...] [...] HUD Publishes Clarification of Non-Recourse Policy For HECMs [...]

]]> By: C e c i l ~ S p a r k s http://reversemortgagedaily.com/2008/12/09/hud-publishes-clarification-of-non-recourse-policy-for-hecms/comment-page-1/#comment-13908 C e c i l ~ S p a r k s Thu, 11 Dec 2008 06:33:50 +0000 http://reversemortgagedaily.com/2008/12/09/hud-publishes-clarification-of-non-recourse-policy-for-hecms/#comment-13908 Thank you James !! Very helpful !! Thank you James !! Very helpful !!

]]> By: James A. Nelson http://reversemortgagedaily.com/2008/12/09/hud-publishes-clarification-of-non-recourse-policy-for-hecms/comment-page-1/#comment-13886 James A. Nelson Thu, 11 Dec 2008 00:37:17 +0000 http://reversemortgagedaily.com/2008/12/09/hud-publishes-clarification-of-non-recourse-policy-for-hecms/#comment-13886 "Worth", sorry. “Worth”, sorry.

]]> By: James A. Nelson http://reversemortgagedaily.com/2008/12/09/hud-publishes-clarification-of-non-recourse-policy-for-hecms/comment-page-1/#comment-13883 James A. Nelson Thu, 11 Dec 2008 00:35:29 +0000 http://reversemortgagedaily.com/2008/12/09/hud-publishes-clarification-of-non-recourse-policy-for-hecms/#comment-13883 No, Mr. or Ms. C Sparks, I called 1-800-225-5542: This is the FHA National Resource Center and somtimes the wait time is long but well woth it. No, Mr. or Ms. C Sparks, I called 1-800-225-5542:
This is the FHA National Resource Center and somtimes
the wait time is long but well woth it.

]]> By: C S p a r k s http://reversemortgagedaily.com/2008/12/09/hud-publishes-clarification-of-non-recourse-policy-for-hecms/comment-page-1/#comment-13870 C S p a r k s Wed, 10 Dec 2008 21:12:49 +0000 http://reversemortgagedaily.com/2008/12/09/hud-publishes-clarification-of-non-recourse-policy-for-hecms/#comment-13870 In your comment above you said: After calling the HUD/FHA information hot line ... What is that number and where can I find or reference the number you use ?? Thank You. Is this it 202) 708-1112 .. from the bottom of the HUD web site ? U.S. Department of Housing and Urban Development 451 7th Street S.W., Washington, DC 20410 Telephone: (202) 708-1112 TTY: (202) 708-1455 Find the address of a HUD office near you Or perhaps this number Federal Housing Administration Hotline (800) 483-7342 found by following these links: http://www.usa.gov/Contact/Directories.shtml http://www.info.gov/toll-free.htm In your comment above you said: After calling the HUD/FHA information hot line …
What is that number and where can I find or reference the number you use ?? Thank You.

Is this it 202) 708-1112 .. from the bottom of the HUD web site ?

U.S. Department of Housing and Urban Development
451 7th Street S.W., Washington, DC 20410
Telephone: (202) 708-1112 TTY: (202) 708-1455
Find the address of a HUD office near you

Or perhaps this number
Federal Housing Administration Hotline
(800) 483-7342

found by following these links:
http://www.usa.gov/Contact/Directories.shtml

http://www.info.gov/toll-free.htm

]]> By: C S p a r k s http://reversemortgagedaily.com/2008/12/09/hud-publishes-clarification-of-non-recourse-policy-for-hecms/comment-page-1/#comment-13868 C S p a r k s Wed, 10 Dec 2008 20:37:56 +0000 http://reversemortgagedaily.com/2008/12/09/hud-publishes-clarification-of-non-recourse-policy-for-hecms/#comment-13868 In your comment above you said: After calling the HUD/FHA information hot line ... What is that number and where can I find or reference the number you use ?? Thank You. Is this it 202) 708-1112 .. from the bottom of the HUD web site ? U.S. Department of Housing and Urban Development 451 7th Street S.W., Washington, DC 20410 Telephone: (202) 708-1112 TTY: (202) 708-1455 Find the address of a HUD office near you In your comment above you said: After calling the HUD/FHA information hot line …
What is that number and where can I find or reference the number you use ?? Thank You.

Is this it 202) 708-1112 .. from the bottom of the HUD web site ?

U.S. Department of Housing and Urban Development
451 7th Street S.W., Washington, DC 20410
Telephone: (202) 708-1112 TTY: (202) 708-1455
Find the address of a HUD office near you

]]> By: James A. Nelson http://reversemortgagedaily.com/2008/12/09/hud-publishes-clarification-of-non-recourse-policy-for-hecms/comment-page-1/#comment-13854 James A. Nelson Wed, 10 Dec 2008 17:56:37 +0000 http://reversemortgagedaily.com/2008/12/09/hud-publishes-clarification-of-non-recourse-policy-for-hecms/#comment-13854 Isn't it true: About the time one thinks he is so damn smart, he shows his ignorance by writing "their" instead of "there". Isn’t it true: About the time one thinks he is so damn smart, he shows his ignorance by writing “their” instead of “there”.

]]> By: James A. Nelson http://reversemortgagedaily.com/2008/12/09/hud-publishes-clarification-of-non-recourse-policy-for-hecms/comment-page-1/#comment-13853 James A. Nelson Wed, 10 Dec 2008 17:52:32 +0000 http://reversemortgagedaily.com/2008/12/09/hud-publishes-clarification-of-non-recourse-policy-for-hecms/#comment-13853 Recently, I asked you esteemed mortgage wizzards if anyone knew where it was in print that heirs have a full year to satisfy the Reverse mortgage debt with a conventional mortgage or the sale of the property. After calling the HUD/FHA information hot line (which I reccomend to all), the answer is in the FHA Reverse Mortgage Handbook, Section 4330.1, page 25, under the heading "Foreclosure". The time period is 12 months in 3 month intervals as long as the party is making a good faith effort to sell the property perhaps in a challenging market. Just thought someone out their might also like to know. Recently, I asked you esteemed mortgage wizzards if
anyone knew where it was in print that heirs have a full year to satisfy the Reverse mortgage debt with
a conventional mortgage or the sale of the property.
After calling the HUD/FHA information hot line (which
I reccomend to all), the answer is in the FHA Reverse Mortgage Handbook, Section 4330.1, page 25, under the heading “Foreclosure”. The time period is 12 months
in 3 month intervals as long as the party is making a good faith effort to sell the property perhaps in a challenging market. Just thought someone out their might also like to know.

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