Reverse Mortgages

Thumbnail image for Home Equity Conversion Mortgage Is “Complicated”…

Home Equity Conversion Mortgage Is “Complicated”…

by ritasimpson September 27, 2012 Money Talk

Home Equity Conversion Mortgage (HECM) has great potential value to senior homeowners planning their retirement. The value is realizable, however, only with the adjustable-rate HECM that provides multiple options for receiving payments.

Many borrowers are electing the fixed-rate HECM, which requires that they draw the full amount of their borrowing power in cash, leaving nothing for …

Read the full article →