PJ's Reverse Mortgage Blog

The HECM for purchase  in Texas is, at this point, a NO GO. It looks like it is an issue that will have to go back before the legislature.

Your help is needed to keep Texas seniors from being discriminated against.

Call Representative Scott Hochberg’s office (512) 463-0492 and ask to speak to whomever is in charge of housing.

Call Senator John Carona’s office (512) 463-0116 and ask to speak to whomever is in charge of housing.

Representative Hochberg and Senator Carona have been friends of TX seniors in the past and helped pass legislation that gave seniors the right to home equity lines of credit through reverse mortgage loans. We need to request their help again by calling their Austin offices and asking if they are aware of this issue.

There are no lenders willing to accept applications for the reverse mortgage for purchase loans for properties in Texas.   Texas seniors deserve the same benefits and flexibility as the rest of US citizens. To be able to purchase a home with a reverse mortgage without the dual set of closing costs required now in Texas. 

Please call this week if at all possible.  PJ :)