The New Federally Insured HECM Credit Line can help you achieve Financial Peace of Mind by allowing you to meet your retirement goals. HECM stands for Home Equity Conversion Mortgage which is a smart type of home equity line of credit geared toward helping retirement aged homeowners gain better control over the repayment of their mortgage.
The HECM allows you the flexibility to pay any amount, at any time towards the balance. You can pay interest only, principal & interest or No payment at all. That’s the Flexibility every Senior needs to be able to better enjoy their retirement years, Stress Free.
Another great benefit is that the limit of your available HECM Credit Line increases every year automatically, giving you access to additional funds as needed throughout your retirement years. This can make all the difference.
In addition to the benefit of paying off your current mortgage which increases your monthly cash flow, a HECM Credit Line can also be used to pay off credit card debt, make home repairs or improvements as well as many other purposes as listed below.
You can use the proceeds from your HECM Credit Line to:
Retire your existing mortgage
Supplement your income
Replace lost social security or pension income
Pay off credit card & other debt
Protect your portfolio from a down or bear market
Do home improvements or needed repairs
Install senior-friendly home modifications
Advance inheritance money to your heirs
As you can see, the funds can be used for any situation that you may have. No matter what your current financial situation, a Federally Insured HECM Credit Line can secure and enhance your retirement.
We look forward to the opportunity to serve your financial needs. Please feel free to call us for further details at 800-822-1190.