As at the time of writing, the President has signed the Economic Stimulus package, part of which includes the provision for the HECM limit to increase to $625, 500 for the balance of 2009. THis is great news for homeowners in higher value homes as they can get more value from their home equity.
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This is terrific news for senior homeowners. As a reverse mortgage specialist, and a lender since 1982, I am really excited that the Stimulus Bill has helped seniors this way, in addition to some other very important ways. AARP has an article that lists how the Stimulus Bill helps seniors, and can be checked out at the AARP website.
Gloria
http://reversemortgagesnow.blogspot.com
(Northern Virginia and Washington, D.C.)