The average HECM borrower will see their initial benefits decrease by $7,500
tomorrow. Rates have become unglued. A 65-year old baby boomer will get 25% less tomorrow than they got at the beginning of the year! And rates took a material jump today so next week will show another drop in benefits.
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Is anyone doing Jumbo Reverse mortgages besides First Reverse?
Bank of America is able thru the merge with Countrywide.