November 5, 2024 12:34 pm
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Sun Cities residents push for policy change

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sun cityBy Rusty Bradshaw | YourValley.net

Sun Cities homeowners hoping for a resolution to the logjam on reverse mortgages could be disappointed.

In addition, the Federal Housing Authority’s moratorium on reverse mortgages could expand to all loans by the end of the year, according to Steve Puck, a Sun City attorney.

“HUD mentioned that if this isn’t resolved, there may not be any lending available in Sun City and Sun City West, which could negatively affect your home values,” he said. “All home sales would need to be cash only.”

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