What are the borrower’s obligations after the loan has closed?<\/span><\/h2>\n1. Occupy the home as a principal residence<\/p>\n
2. Make timely payments of their property taxes, Home Owners Association (HOA) fees, ground rents, etc.<\/p>\n
3. Maintain homeowner\u2019s hazard insurance policy<\/p>\n
4. Maintain the property in a condition equal to when the loan was closed<\/p>\n
<\/p>\n
<\/p>\n
<\/h1>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
CONSUMER FACTS for Home Equity Conversion Mortgage (HECM) Reverse mortgages are becoming popular in America. HUD’s Federal Housing Administration (FHA) created one of the first, the Home Equity Conversion Mortgage (HECM). A HECM (also known as a reverse mortgage) is a federally insured loan that enables you to withdraw some of the equity in your […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"nf_dc_page":"","pmpro_default_level":"","footnotes":""},"_links":{"self":[{"href":"https:\/\/www.guardianmtginc.com\/index.php?rest_route=\/wp\/v2\/pages\/1138"}],"collection":[{"href":"https:\/\/www.guardianmtginc.com\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.guardianmtginc.com\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.guardianmtginc.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.guardianmtginc.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1138"}],"version-history":[{"count":3,"href":"https:\/\/www.guardianmtginc.com\/index.php?rest_route=\/wp\/v2\/pages\/1138\/revisions"}],"predecessor-version":[{"id":2187,"href":"https:\/\/www.guardianmtginc.com\/index.php?rest_route=\/wp\/v2\/pages\/1138\/revisions\/2187"}],"wp:attachment":[{"href":"https:\/\/www.guardianmtginc.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}