Reverse Mortgage Survey

MORTGAGES BY JOHN KARAVAS
In Association with Horizon Home Mortgage for Traditional and Reverse Mortgages

Health - Individual, Group & Medicare; Long-Term Care Protection; and Reverse Mortgages

FHA Reverse Mortgage Insurance Cost Survey

The purpose of this form is to get a sampling of how the general/senior population feels about the insurance premiums that FHA is charging for the guarantees that FHA is promising to senior home owners who take advantage of the FHA insured reverse mortgage product - Home Equity Conversion Mortgage

Reverse Mortgage Insurance Premium Charges

The FHA premium charges to fund the FHA guarantees are equal to 2% of the appraised value of a home, plus 1/12 of 1/2% of the loan balance per month.

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Your Name:
Name of CT city/town you reside in: *
Since the FHA guarantees, and charges an insurance premium to assure the bank that the loan will be paid in full, the banks offer twice as much in the line-of-credit to the borrower compared to when there was no guarantee. You would prefer that the guarantee, and the charge, be removed in order to make the loan less costly, even though the borrowers would be offered a line-of-credit one-half as large as currently being provided:
You would prefer to have FHA remove the current charge and guarantee to preserve an unused line-of-credit for future use in the event that a bank goes out of business. You would prefer to have no cost and you will take your chances:
Your would prefer to have FHA remove the current charge and remove the guarantee that preserves the receipt of a monthly supplemental check that one can receive each month even if the bank goes out of business. You prefer the no cost, I will take my chances of losing the money approach:
You would prefer to have FHA remove the insurance premium, and the guarantee, that if you live longer than what was actuarially anticipated, your reverse mortgage benefits would continue to perform without jeopardy. You would prefer a no cost, I will take my chances approach:
You would prefer that FHA remove the insurance premium and the guarantee that when your loan becomes due the repayment is isolated to the third party sales price value of your home and NO other assets. You would prefer the no cost, all assets available approach for repayment of the loan:
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