http://reversemortgageloanblog.com/2009/11/13/why-reverse-mortgages-need-mortgage-insurance/ News and discussion about Reverse Mortgages Sat, 30 Apr 2011 21:05:04 +0000 hourly 1 http://wordpress.org/?v=3.0.5 http://reversemortgageloanblog.com/2009/11/13/why-reverse-mortgages-need-mortgage-insurance/comment-page-1/#comment-4330 Esther Trible Tue, 24 Nov 2009 17:03:16 +0000 http://reversemortgageloanblog.com/?p=1037#comment-4330 I have a jumbo reverse mortgage taken out in 2007 which paid off my mortgage and gave me a line of credit that increases by 5% every year. Does your article mean if the lender goes out of business my line of credit could disappear? The lender wants me to refinance with them, getting the FHA insurance. However, that means they would reapppraise my home (which appraised for 835k) and probably lower the total amount available to me. It is worrisome to think that if I don't refi I could lose the loan. The loan alance now is 191k. I have a jumbo reverse mortgage taken out in 2007 which paid off my mortgage and gave me a line of credit that increases by 5% every year. Does your article mean if the lender goes out of business my line of credit could disappear? The lender wants me to refinance with them, getting the FHA insurance. However, that means they would reapppraise my home (which appraised for 835k) and probably lower the total amount available to me. It is worrisome to think that if I don’t refi I could lose the loan. The loan alance now is 191k.

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