FOR IMMEDIATE RELEASE
The Recreation Centers of Sun City, Inc. has requested written confirmation from HUD/FHA that if RCSC does not charge the Preservation & Improvement Fee (PIF) or Transfer Fee on foreclosures or properties being surrendered by deed in lieu, Sun City AZ will be given the green light by HUD/FHA for reverse mortgages. Despite the fact that RCSC has not made any changes that created the failure for HUD/FHA to approve reverse mortgages, unfortunately Sun City AZ has been excluded from approval despite RCSC’s repeated efforts to remedy this situation. RCSC hopes that this recent request will be responded to favorably and as quickly as possible.
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