Thursday, July 1, 2010
June 30 MISMO Reverse ListServ meeting
We're keeping a steady momentum as evidenced by our meeting yesterday. We've had participation from several MISMO and reverse industry veterans. Our goal, at the moment, is to map the current reverese fields to the 3.1 schema and if they are already in a container, note that on our master spreadsheet. For those fields that do not already have a place in the schema, we are noting those and will create separate reverse specific containers. If you know of anyone that wants to join our efforts, let them know what we're doing and have them join the Reverse ListServ at www.mismo.org ! The more the merrier! :-)
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A reverse mortgage allows homeowners 62 and older who own their homes outright or who have low mortgage balances to get cash by borrowing against the equity in their home. The mortgage comes due when the borrower dies, moves or sells the home – often shifting the responsibility to family members or heirs.
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