Duration of the HECM Saver

HUD has not announced any plans for the termination of the HECM Saver, nor attached a date limit on when they will be available. As far as we at NewRetirement can tell, the HECM Saver will be available for the foreseeable future.

The Saver isn't a temporary program, it's permanent, and HUD doesn't have any plans to discontinue it. The only thing that'll change in the near term with the Saver program is the lending limit. On January 1, 2012, the lending limit be reduced to $417,000.00. But that change isn't specific to the Saver program, it applies to the Standard program too.

HECM reverse mortgage is the safest option for consumers as the loan is backed by the federal government.With our current government already warning us of a possible default in social security checks, it is crucial that seniors secure their retirement, one way to do is to have lifetime monthly income from the reverse mortgage. If property values keep dropping and or laws/regulations change to qualify for a reverse mortgage it will make it harder for you to secure that retirement income.