Comments on: If Passed, the FHA Modernization Act of 2007 Harkens Good Things for Reverse Mortgage Borrowers http://blogs.newretirement.com/2008/02/20/fha-modernization-act-of-2007/ Covering retirement, financial, tax and political topics relevant to people planning for or living in retirement Mon, 14 Sep 2009 19:03:57 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Daniel Dominik http://blogs.newretirement.com/2008/02/20/fha-modernization-act-of-2007/comment-page-1/#comment-360 Daniel Dominik Thu, 06 Mar 2008 16:27:13 +0000 http://blogs.newretirement.com/2008/02/20/if-passed-the-fha-modernization-act-of-2007-harkens-good-things-for-reverse-mortgage-borrowers/#comment-360 Could you please tell me where you learned that a borrower must live in their home for a year before they can qualify for a HECM? I know that they must own it as their full time residence (more than 6 moths out of the year), and I realize that the definition of “ownership” is very vague, but I have never heard of a first year requirement. Thanks Could you please tell me where you learned that a borrower must live in their home for a year before they can qualify for a HECM? I know that they must own it as their full time residence (more than 6 moths out of the year), and I realize that the definition of “ownership” is very vague, but I have never heard of a first year requirement.

Thanks

]]>