Friday, January 14, 2011

Home Equity Conversion Mortgage (HECM) Program

AoA has added a new page to that provides information about a new role for Aging Network professionals in working with HUD HECM reverse mortgage holders who may be delinquent with certain property cost payments. 

Beginning in January HECM mortgagees who are delinquent in property cost payments will receive a letter from their lender regarding payment of these costs.  Many of these older mortgagees may turn to the Aging Network for assistance.  This new web page is designed to assist Aging Network professionals in understanding the issue and how they may assist.  Resources available on the web page include background information, summary information, and an FAQ that may be used with consumers.  As new resources become available, the AoA HECM web page will be updated to include them.

The new web page can be found under AoA Programs, Special Projects at   
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