There are currently 4 names in this directory beginning with the letter L.
the entity that makes the Reverse Mortgage available to you. Lenders must be approved by HUD in order to offer the HECM loan, and must strictly comply with HUD guidelines. Lenders have relationships with brokers who are authorized to sell their loan products. Brokers can represent multiple lenders and may therefore identify the best loan for your specific situation.
the cap on value used to determine loan proceeds available to a homeowner. This limit is now set nationally at $625,500. (historically limits were set by county). Lending limits are used along with your age, the appraised value of the property and qualifying interest rates to determine the loan proceeds available to you.
a legal claim on a property for payment of debt; a mortgage or equity line is the most common type of lien.