REVERSE MORTGAGES FOR SENIORS
Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage insured by the U.S. Federal Government is called a Home Equity Conversion Mortgage or HECM, and is only available through an FHA approved lender.
HECMs and Other Reverse Mortgage Loans
These are fantastic loans that can serve you well in your retirement years. This loan product requires special attention on both sides of the broker/borrower relationship. Most of the time we prefer to work on these in a face to face situation due to the nature of the loan product.