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What Is A Home Equity Conversion Mortgage And Could It Be Right For Me
A Home Equity Conversion Mortgage or HECM, is also referred to as a Reverse Mortgage.
If you or your spouse are a min of 62: you are on your way to qualifying.
This loan requires that you put as little as 40% down, financing the balance, and never making a mortgage payment as long as you or your spouse reside in the home.
I call this the lifestyle loan.
It allows for you to keep more of your money allowing for you to live the retirement lifestyle you desire.
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This loan sounds too good to be true. What is the catch? Am I going to get 'dinged' because I don't make an interest payment? Here are the basics:one borrower must be a min of 62
A Home Equity Conversion Mortgage or HECM, is also referred to as a Reverse Mortgage.If you or your spouse are a min of 62: you are on your way to qualifying.This loan requires that you put as
As Irma heads to Florida, Houston is in the early stages of picking up the wet pieces and trying to look forward to sunshine filled and dry days. One area that is affected nationwide after a