HECM Cap to Increase

BREAKING NEWS!

Last evening, the U.S. Senate unanimously passed a
supplemental appropriations bill that provides additional
funding for the war in Iraq and other necessities but more
importantly raises the HECM loan cap by an additional
100,000 to 250,000. The same bill was approved by the House
of Representatives last week. President Bush is expected to
sign the legislation into law anytime.

While the supplemental appropriations bill provides a
temporary solution, NRMLA is working around the clock with
the leadership of the House Financial Services Committee and
the Subcommittee on Housing and Community Opportunity to
introduce legislation that will either permanently remove
the cap or raise it to a much higher level.

Stay tuned for additional details.

Grant Shellhammer
Life Settlement and Reverse Mortgage Specialist
RTG Consultants, LLC
http://www.rtgconsultants.com/
888.973.8377
407.774.0112