Beginning on Oct. 1, 2009, all condo projects will have to go through an extensive approval process in order to qualify for a reverse mortgage. If you are considering a reverse mortgage, it's important you apply and get your counseling certificate prior to the end of August to avoid delays or possibly not qualifying at all! Call Maggie O'Connell at 800-489-0986 or e-mail at maggie@rmstore.net, or read this document for further information.
The new condo approval requirement has been extended to December 7th. If you know anyone who owns a condo and interested in a reverse mortgage, let them know they have more time to take advantage of this great program.