• Home News Newly Approved Massachusetts Bill Streamlines HECM/Reverse Mortgage Counseling via Telephone and Online Video

Newly Approved Massachusetts Bill Streamlines HECM/Reverse Mortgage Counseling via Telephone and Online Video

Posted 30 Apr-2020 12:14 PM by melissa | 1211

Seniors can now access Housing Wealth during COVID-19. A new law signed by Governor Charlie Baker simplifies the œcounseling requirement associated with most HECM/Reverse Mortgage loans.

Boston, MA, Apr 30, 2020 -- A new law signed by Governor Charlie Baker simplifies the œcounseling requirement associated with most HECM/Reverse Mortgage loans.  The new bill, signed by the governor April 24, 2020, opens the door for telephone and virtual online video counseling to take place during the COVID-19 crisis.

Previously a face to face meeting between borrower and counselor was required. Given the œsocial distancing recommendations this had become impossible.

œWe are delighted that seniors, age 62 plus, can now move forward with HECM/Reverse Mortgages and receive the financial security and flexibility they need, noted George Downey, CEO of Harbor Mortgage based in Braintree, MA and a board member of the National Reverse Mortgage Leaders Association, who championed the bill along with a coalition of other stakeholders including the Massachusetts Mortgage Bankers Association.

The new legislation was part of the œAn Act providing for a moratorium on evictions and foreclosures during the COVID-19 Emergency bill H4647.

Downey continued, œHome equity, recognized now as ˜housing wealth', has become an important and valuable resource to improve financial planning and extend retirement security. If, how, and when to use it is a key question. Every situation is different and the options are increasing as new programs emerge to meet the changing times.

Home and condominium owners interested in learning more about their options may contact Harbor Mortgage at 781-843-5553, or visit HarborMortgage.com.

About Harbor Mortgage:
Harbor Mortgage Solutions, Inc. is a family-owned, residential mortgage company serving Massachusetts and Rhode Island. Recognized as a leading housing wealth management authority, Harbor Mortgage is dedicated to serving the unique home financing and often complex needs of senior homeowners, while also promoting those needs among consumers, professional advisors, state legislators and industry regulators.

Harbor Mortgage (NMLS #2846, MA-MB2846, and RI 20041821LB) is located in Braintree, MA. For more information, contact 781-843-5553 or visit HarborMortgage.com.

Tags:

Mortgage Counseling, online video counseling Affordable Press Release Website, Affordable Press Release Distribution Site, Free Press Release Distribution Website, Free Press Release Submission, Free Press Release Distribution Services

Company Information

Company Name Contact Person Contact Number Email Id Website Address
Harbor Mortgage Solutions, Inc. 7818435553 info@harbormortgage.com http://www.harbormortgage.com

Other Finance Related Press Release News

Morgan Financial Recovery helps clients recover their money Free

Financial frauds are increasing on a daily basis and every day, some new kind of scam is being unearthed by the investigative agencies. Scammers, owin...Read More


Newly Approved Massachusetts Bill Streamlines HECM/Reverse Mortgage Counseling via Telephone and Online Video Free

Seniors can now access Housing Wealth during COVID-19. A new law signed by Governor Charlie Baker simplifies the “counseling” requirement associat...Read More


Cann Trust - Sale and Investment Solicitation Process Free

 On March 31, 2020, CannTrust Holdings Inc. (the "Company") announced that the Company and certain of its subsidiaries (collectively, "CannTrust"...Read More


Cumberland Pharmaceuticals To Announce First Quarter 2020 Financial Results Free

Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) announced today that it will release first quarter 2020 financial results and a Company updat...Read More


Americas Gold And Silver Corporation Reports First Quarter 2020 Results Free

Americas Gold and Silver Corporation ("Americas" or the "Company") (TSX: USA; NYSE American: USAS), a growing North American precious metals prod...Read More