Reverse Mortgages (HECM)

Reverse Mortgages (HECM):

 

Reverse mortgages are for older borrowers over the age of 62 that have a significant amount of equity and would like to refinance and take cash out to subsidize their aging lifestyle but don’t want the burden of a monthly payment anymore.
 
Reverse mortgages allow for a convenient way for older borrowers to manage their finances through multiple options. You may receive your monies in either monthly installments, a lump sum, or a combination of the two.
 
Reverse Mortgages are not what the use to be, they are now even better:
 
·         You retain the title to your home
·         No equity sharing(The lender does not take over your home)
·         Fees and Costs are federally regulated
·         Guaranteed access to your money
·         As long as you live in the home you never pay a single dollar
·         Your heirs still have multiple options