Christmas has come early - HUD announces a major increase to the Modern Reverse Mortgage!

How about some good news! HUD this week announced an increase to their Maximum Claim Amount, otherwise known as the FHA Lending Limit... and increase of $118,500! Beginning 1/1/2023 the maximum amount that HUD looks at in their calculations increases from the current $970,800 to $1,089,300! Amazing good news for many homeowners who have found that the dramatic rise in home values have now placed them in the previously rarified air of million dollar plus homes... common now in many part of the country!