Comments on: Reverse Mortgage Rates – December, 23 2008 http://reversemortgagedaily.com/2008/12/23/reverse-mortgage-rates-december-23-2008/ Reverse Mortgage News and Information Fri, 10 Feb 2012 19:11:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Warren Mennig http://reversemortgagedaily.com/2008/12/23/reverse-mortgage-rates-december-23-2008/comment-page-1/#comment-15500 Warren Mennig Sat, 27 Dec 2008 03:39:35 +0000 http://reversemortgagedaily.com/2008/12/23/reverse-mortgage-rates-december-23-2008/#comment-15500 Is it true that HUD has a set a floor of 5.5% in determining the initial principal amount? A few people have told me that they never have heard about a floor. Also, I assume the weekly rates that you give us are the rates that are we are charged (each month in my case). Hpwever, your November 25th posting you indicated that a big drop in the 10 year would result in a $5000+ increase in benefits. But each week you say that the falling rates are a negative. I am not a professional reverse mortgage specialst so I am somewht confused. Thank you in advance for a response. Warren Mennig Is it true that HUD has a set a floor of 5.5% in determining the initial principal amount? A few people have told me that they never have heard about a floor.

Also, I assume the weekly rates that you give us are the rates that are we are charged (each month in my case). Hpwever, your November 25th posting you indicated that a big drop in the 10 year would result in a $5000+ increase in benefits. But each week you say that the falling rates are a negative.

I am not a professional reverse mortgage specialst so I am somewht confused.

Thank you in advance for a response.

Warren Mennig

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