Like most retirees, your homeās equity or āHousing Wealthā is your largest asset. Put that equity to work for you with a HECM Reverse Mortgage.
First things first, 98% of all reverse mortgages, also known as reverse equity loans, are the Federally Insured Home Equity Conversion Mortgage, also known as a HECM, or āHeck-um.
The āNEWā HECM is the Federal Housing Administrationās upgraded or enhanced reverse mortgage credit line program. The āOldā reverse mortgage is obsolete – making it impossible to really compare the two.
The HECM can be an amazing retirement tool, allowing seniors to tap into their reverse equity. The HECM is simply a Credit Line that allows you to access your homeās equity providing you with Tax-Free Cash without requiring any monthly repayment.
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