Reverse Mortgage Lender

More good Reverse Mortgage News!

Lenders Implement Locking Mechanism to Safeguard Consumer Funds

Reverse mortgage lenders, with approval from the U.S. Department of Housing and Urban Development, have implemented a new consumer protection called the "principal limit lock" which freezes the "expected interest rate" on federally-insured reverse mortgages for a period up to 60 days from the date of application.

A Reverse Mortgage Lender such as Reverse Mortgage Nation, can answer any questions you might have regarding the reverse mortgage process and the new interest rate lock.

ReverseMortgageNation.com is a member of the National Reverse Mortgage Lenders Association (NRMLA), which helps consumers find a reverse mortgage lender and consultant in their state. Call 1-888-973-8377 to speak with a reverse mortgage lender today.