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Oak point clubs: we have plenty of room for your pictures and announcements! See Clubs for more information.

The House has passed H.R. 1852, "The Expanding American Homeownership Act of 2007". Among other things, this bill would make it possible to obtain Federally insured reverse mortgages for homes such as we have at Oak Point. It's not that it is impossible to obtain a reverse mortgage now, but that this bill could make it easier and less expensive.

Obviously that part of the bill is of possible interest to Oak Pointers. However, you really should take the time to at least try to understand all the intent and effect of this. There's a 12 page analysis available at http://www.cbo.gov/ftpdoc.cfm?index=8211. If you have the stomach for it, the entire bill is at http://thomas.loc.gov/cgi-bin/query/z?c110:H.R.1852:. None of this is easy reading.

The Senate is apparently looking at its own version of this.