Tag Archive for: HECM

What the Heck is a HECM?

The Department of Housing and Urban Development, or HUD, offers the Home Equity Conversion Mortgage (HECM) through the FHA program. Pronounced HECK-um, this loan is often referred to as a reverse mortgage and is somewhat counterintuitive. A traditional mortgage is what is a “forward” mortgage which means the loan balance gets lower as each payment […]