What Is A Home Equity Conversion Mortgage And Could It Be Right For Me

Dated: 09/20/2017

Views: 927

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. 



Blog author image

Irene Hammond

My goal is to assist you in finding the community and the home within that community where you will be happiest and to do it in as stress free a manner as possible. Together we will discover a place w....

Want to Advertise on this Site?

Latest Blog Posts

What Do I Need To Know About Qualifying For A Reverse Mortage

Your credit really isn't important when qualifying for a Home Equity Conversion Mortgage (HECM) also known as a Reverse Mortgage.  Neither is income.  If you or your spouse is a min of 62

Read More

How Long Does It Take To Use The Equity In My Home With A Reverse Mortgage

If I am not makng ahouse payment,and interest is acrewing...How long does it take for the equity in my home to get used up?In this converation, we disucss how long it takes for the equity to be

Read More

SHORT SALE AND FORECLOSURE HOW ARE THEY DIFFERENT

As unfortunate as it can be when homeowners fall behind on mortgage payments and must face the possibility of losing their homes, short sales and foreclosures provide them options for moving on

Read More

FIVE MONEY SAVING GREEN UPGRADES

Going green is great for the environment, but that’s not the only benefit. When you make green upgrades in your home, it can also lead to some major savings.Solar panels: The upfront cost is

Read More