Top-five U.S. reverse mortgage lender Longbridge Financial announced Tuesday that it’s making changes to its Platinum proprietary product suite — including a lower interest rate of 7.99% and a higher principal limit factor that allows borrowers to tap more of their home equity.

This week’s changes were precipitated by the company’s desire to help more seniors address the rising cost of living through the collective $14 trillion in equity they hold.

They also come at a time when Longbridge and other leading lenders are placing more capital and resources into their proprietary products to attract demand in the secondary details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com