Instead of having $318k at my disposal I could have $375k at my disposal.One nice feature about my HELOC is that I can turn any part of the outstanding balance into a fixed loan with the prime minus 0.5% rate. 

-- Infinity... since these loans aren't reported on credit and DTI isn't a factor, DSCR lenders don't care about the number of mortgages you have outstanding.• Credit needed?

I would bishhslap any wholesaler WITH their damn contract if they ever dare to lay that on me!

The loan has unlimited recasting so you only owe interest on outstanding borrowed amount saving you thousands in interest.

I haven’t even been able to get the damn appraiser on the phone.

Additional details:Page 1 of the Mortgage reads…ADJUSTABLE RATE HOME EQUITY CONVERSION MORTGAGEand above that there is…FHA Case No. 145-7452891-823I made up the case number, but you get the gist.For example’s sake, let’s assume that there is $200,000 outstanding on the remaining balance for this reverse mortgage.In 2012, there was a line of credit mortgage taken out on the property for $30,000.

As Patrick mentioned, MIP is a single pay premium to the outstanding loan over the course of the term and will not be effected by the LTV as the loan is reduced.

Great guy, outstanding service.

That is when they can force you to refi at a higher rate or foreclose with less of an outstanding balance on the lender end, so more to gain.

@Carolyn Guertin I don't follow a damn thing you are saying as it pertains to Cozy or how this was resolved.