A HECM Reverse Mortgage is a Retirement tool designed to help seniors live with greater financial freedom in retirement by giving them access to the equity.
The Home Equity Conversion Mortgage (HECM) is an ingeniously constructed financial instrument that can meet a wide variety of needs of homeowners 62 or older. In addition to its versatility, HECMs are also extremely flexible, permitting changes in the ways in which seniors receive funds as their needs change over the years.
What Is Hecm Loan Can You Get A Reverse Mortgage On A Condo What Is Best Way for a Condo. it’s the first mortgage on the home. Like any other mortgage, if you know, an owner dies, the mortgage is there, has to get paid off at some point. What’s different.