Montana’s unique Reverse Annuity Mortgage (RAM) program is a state-sponsored reverse mortgage, with lower interest rates and proceeds along with a higher minimum qualifying age that distinguishes it from the Home Equity Conversion Mortgage (HECM) program through the Federal Housing Administration (FHA).

Cheryl Cohen, division administrator for the housing division at the Montana Department of Commerce and executive director of the Montana Board of Housing, recently sat down with HousingWire’s Reverse Mortgage Daily (RMD) to discuss the role that the RAM program plays for the state’s seniors and why details ⇒

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