Why Montana is more heavily promoting its state-run reverse mortgage program

The RAM program allows older Montanans to tap into home equity to boost income, especially vital for those facing rising costs and fixed incomes.

Cheryl Cohen emphasizes the RAM program's flexibility regarding qualifications, lower closing costs, and tailored support for seniors, unlike HECM options that have more strict guidelines.

Enacted in 1989, the RAM program was designed to assist lower-income elderly homeowners in Montana by providing them with a supplemental income source through their home equity.

As inflation rises and many seniors have low or no mortgage balances, the RAM program serves as a crucial support system for their financial stability.

Read at www.housingwire.com