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The Housing and Economic Recovery Act (HERA) carries what many believe as a long-awaited modernization of FHA rules for reverse mortgages. The law, which will lower fees and raise loan limits, has the majority of the industry speculating that a rise will be seen in FHA-insured reverse mortgages among middle-class seniors.

Typically, the Reverse Mortgage program was aimed toward lower and medium valued homes. Now with the fees being lowered and the loan limits being raised, it appears that the program could, and will be, considered more by middle class seniors as a way to stabilize there monthly cash flow. Florida reverse mortgages are a great way to prepare for ones retirement and help secure the future they have always dreamed of.

It is said that 43 percent of working house holds are not prepared for retirement (This fact is brought to you by The Center for Retirement Research), and with more seniors realizing that their home’s equity can be used in a positive way. People are starting to take advantage of this program.

Florida Reverse Mortgages are a great tool!