reverse mortgage
Pros and Cons of a Reverse Mortgage (HECM)
A reverse mortgage or Home Equity Conversion Mortgage (HECM) makes part of your home’s equity available for you to obtain non-taxable cash inflows without paying having mortgage payments every month. Pros of a Reverse Mortgage (HECM) Your name remains on the Home Title Money is accessible on-demand with no monthly loan payments At any point,…
Read MoreReverse Mortgages! Eliminate Mortgage Payments, Access Cash
The Reverse Mortgage (A.K.A. HECM or Home Equity Conversion Mortgage) is a loan option that was designed by the Federal Housing Administration (FHA) to help those 62 and older use the equity in their home to beef up their retirement income. It works in reverse of the forward mortgage, with home equity diminishing over time…
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