{"id":5378,"date":"2015-05-01T11:42:13","date_gmt":"2015-05-01T11:42:13","guid":{"rendered":"http:\/\/rm-blog.degreesfinder.com\/?p=5378"},"modified":"2019-01-02T20:05:14","modified_gmt":"2019-01-02T20:05:14","slug":"new-federal-rules-make-it-tougher-to-get-a-reverse-mortgage","status":"publish","type":"post","link":"https:\/\/getyourfreedompass.com\/insurance\/homeowners-insurance\/new-federal-rules-make-it-tougher-to-get-a-reverse-mortgage\/","title":{"rendered":"New Federal Rules Make It Tougher to Get a Reverse Mortgage"},"content":{"rendered":"<p>Thanks to a set of new federal rules doled out earlier this week, it has now become a bit more difficult to obtain a reverse mortgage on your home. The good news, however, is that for those who do get them, they will have a lot less to worry about.<\/p>\n<p>According to the new regulations, potential borrowers will be subject to a \u201cfinancial assessment\u201d to review the income, cash flow and credit reports of prospects.<\/p>\n<p>\u201cI think these changes are positive overall,\u201d Phil Stevenson, a certified reverse mortgage professional and principal of PS Financial Services in Coral Gables, Fla., told <em>Forbes<\/em>. \u201cThey\u2019ll affect five to 10% of potential borrowers and, in reality, those are the ones who probably shouldn\u2019t have done reverse mortgages in the past.\u201d<\/p>\n<p>Image via flickr\/American Advisors Group<\/p>\n<p><a href=\"http:\/\/www.forbes.com\/sites\/nextavenue\/2015\/04\/29\/it-just-got-tougher-to-get-a-reverse-mortgage\/\" target=\"_blank\" rel=\"noopener\">Continue to original source.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thanks to a set of new federal rules doled out earlier this week, it has now become a bit more difficult to obtain a reverse mortgage<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":24855,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[189],"tags":[],"_links":{"self":[{"href":"https:\/\/getyourfreedompass.com\/wp-json\/wp\/v2\/posts\/5378"}],"collection":[{"href":"https:\/\/getyourfreedompass.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/getyourfreedompass.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/getyourfreedompass.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/getyourfreedompass.com\/wp-json\/wp\/v2\/comments?post=5378"}],"version-history":[{"count":0,"href":"https:\/\/getyourfreedompass.com\/wp-json\/wp\/v2\/posts\/5378\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/getyourfreedompass.com\/wp-json\/wp\/v2\/media\/24855"}],"wp:attachment":[{"href":"https:\/\/getyourfreedompass.com\/wp-json\/wp\/v2\/media?parent=5378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/getyourfreedompass.com\/wp-json\/wp\/v2\/categories?post=5378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/getyourfreedompass.com\/wp-json\/wp\/v2\/tags?post=5378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}