Now the borrower’s ability to maintain their property taxes and homeowner insurance over the life of the loan will be considered.  Was not before.  This change is intended to reduce lenders’ risk that a borrower fails to maintain the property or defaults on key obligations.  Borrowers will need to set aside part of their loan proceeds to pay for property taxes and insurance or withhold part of their monthly disbursements for these payments.  Lenders are now expected to put both spouses’ names on a reverse mortgage, even if both parties don’t appear on the title to the property.  REVERSE MORTGAGES CAN HELP SOME OLDER FOLKS, BUT MUST STUDY CAREFULLY!!