If you are a senior who is interested in ways to improve your financial situation, a reverse mortgage may be an option for you. Please feel free to contact me if you would like more information on how I can help you.
A Home Equity Conversion Mortgage (HECM) is the formal name of the federally-administered loan that many commonly refer to as the 'reverse mortgage' loan. The Home Equity Conversion Mortgage is administered by H.U.D. (The Department of Housing & Urban Development) and may help qualified homeowners 62 and older, to enhance their cash flow during retirement.