Pros and Cons of a Reverse Mortgage (HECM)

Cartoon drawing of a house with a drawer of cash coming out of it

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 More]

2019 FHA Loan Limits Increase

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Great News for Reverse Mortgage Seekers! The limits on HECMs have been raised from $679,650 to $726,525; 150% of the loan limits for Fannie Mae and Freddie Mac ($484,350)! According to regulations, reverse mortgage loan limits are not allowed to vary by county. The same limit is used for all mortgages no matter the location… [Read More]