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HUD reverse mortgage counseling removal risks senior protections
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HUD reverse mortgage counseling removal risks senior protections
A proposal to remove housing counseling as a front-end requirement for borrowers seeking government-insured reverse mortgages would eliminate a key consumer protection for seniors, according to Peter M. Mazonas, CEO of NatEquity Inc. Mazonas voiced his concerns in a letter to the U.S. Department of Housing and Urban Development. His comments came in response to HUD’s October request for information (RFI) and a recent HUD suggestion to remove cou…
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