Recent Changes in the Reverse Mortgage will help more seniors acheive financial Security

Feb. 26, 2009 - PRLog -- As of this writing it is sweeping the industry all seniors who own homes that are of higher value and are in need of relief from mortgage payments or other debt or are in need of money to live in their homes for life now have more options. The New limits for the HECM or Reverse Mortgage insured by the FHA have raised the limits for the balance of 2009.

The limits prior to this release was set at $417,000 dollars of home value, in a motion to stimulate the economy and to help seniors and or homeowners who live in high appraised valued homes borrow more money from the equity in their homes. The new limits for home value have increased to $625,500 witch can make hundreds of thousands of dollars available today.

Reverse Mortgage lenders are scrambling to reach the customers who in the past would have in many cases had a short fall of money to complete a Reverse Mortgage Loan. For many seniors who are in need of funds to maintain the life style that they have become accustom to living and want to remain in their homes this is the biggest change that has come to pass.

My hat goes off the the President and congress for acting so diligent to help so may seniors and other citizens in this country who thought they did not have any other options available to them.

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As a company we only work to help seniors and their families who are over the age of 62 to achieve some sort of financial stability in these tough economic times. I am a long time financial expert in the mortgage and real estate industry and offer the public information that can change their lives for the better. Seniors and people who have homes that in the past have not had access to the FHA mortgages with built in security of being insured by the FHA are now in the position to have protection for more information visit http://www.bestmortgageplans.com or call toll free 877-463-6546 ext 7509