mortgage financing and programs

Stimulus Bill Increases Reverse Mortgage Limits to $625K

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The American Recovery and Reinvestment Act that was signed into law on February 17, 2009 includes increased loan limits for FHA Home Equity Conversion Mortgages (HECM). HECM Loans are commonly referred to as reverse mortgages. Reverse mortgages are becoming increasing popular for senior Americans to help meet their financial needs. The new HECM loan limit is now $625,000. The increased limit will allow even more seniors to participate than ever before. This limit is only effective for 2009.

If you know someone 62 years or older that owns their home and is struggling to make their payments you should have them contact Acre Mortgage immediately to discuss how a Reverse Mortgage can help. Visit www.acremortgageforseniors.com for more information, or call us at 1-866-377-2111.

 
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