Tag Archive for: Reverse Mortgage

Clear Benefits of a Reverse Mortgage

Homeowners across the west coast have been asking how they can maximize their home equity options, and reverse mortgages are becoming a popular topic. For the first time in a decade, many homeowners have more than 20% home equity. What’s more, while many have relocated over this past year, most homeowners over the age of […]

Purchase a Home with a Reverse Mortgage

A reverse mortgage is somewhat a counterintuitive term in that a homeowner can take out a reverse mortgage loan but not have to make any payments on the loan until the owner leaves the property. This is compared to a traditional “forward” mortgage where a loan is taken out and the owner makes regular monthly […]

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 […]