Posts Tagged ‘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 More2020 Loan Limits Increase
Great News for Reverse Mortgage Seekers! The limits on HECMs have been raised to $822,375; 150% of the loan limits for Fannie Mae and Freddie Mac ($822,375)! 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 of…
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