Power Up Your Home’s Energy Efficiency with a Reverse Mortgage

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A Home Equity Conversion Mortgage (a reverse mortgage sometimes referred to as HECM) is often considered an avenue for high-equity homeowners to supplement retirement income without selling the home. However, the flexibility of a HECM can also offer funding to make critical improvements or cost-saving upgrades to the home. In fact, an approach that focuses […]

How Does Age Factor Into The Benefits of a HECM?

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If you or a family member is considering a Home Equity Conversion Mortgage, or HECM (also known as a reverse mortgage), you probably know that age is important; after all, FHA requires that borrowers be 62 years old to qualify. But you may be wondering how does age factor into the benefits of a HECM, especially […]

Protecting Your Retirement Plan With A Reverse Mortgage

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While a Home Equity Conversion Mortgage (HECM), or reverse mortgage, can be a smart financial tool for those needing to supplement their retirement income, its possible ability to protect a well-funded nest egg is easy to overlook. As retirement approaches, even those with a solid financial plan may fear the damage an ill-timed market downturn […]

Choosing The HECM Payout Plan That Is Right For You

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If you’re 62 and considering a Home Equity Conversion Mortgage (HECM), often referred to as a reverse mortgage, you may have more flexible options than you realize. Adding a HECM to your retirement strategy also means you can determine the payout plan that will best fit your situation. While all reverse mortgages rely on your […]

Downsizing vs. HECM: Which Is Right For You?

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Senior homeowners face many decisions as they near retirement and begin planning for the future. While a secure income stream may be awaiting some, the reality for many will be crucial conversations about meeting financial goals and maintaining a lifestyle they can enjoy. This begs the question of Downsizing vs. HECM: Which Is Right For You? […]

Homeowner Responsibilities and HECM: A Brief Guide

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As you prepare for retirement, and start considering a reverse mortgage, also known as Home Equity Conversion Mortgage (HECM), there are some important things to remember. While all HECM loans require a third-party counseling session with a government-approved housing counselor, understanding the obligations and responsibilities of homeowners from the outset can help with planning and long-term budgets. Your Obligations […]

What To Expect From HECM Counseling

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Before taking out a home equity conversion mortgage (or HECM) loan, you’re required by law to take part in a third-party counseling session with a government-approved housing counselor. Knowing what to expect from HECM counseling is meant to help you and other potential borrowers be fully versed in all the options available, be educated on […]

HECM For Purchase Exceptions to Remember

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A Home Equity Conversion Mortgage (HECM), or reverse mortgage, allows homeowners age 62 and older to tap into their home’s equity. The funds can be used to supplement retirement income, travel or for any number of other purposes while allowing the homeowners to remain in the home as long as they like. But, what about someone […]

Make The Most of Retirement with a HECM

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For most of us, the appeal of retirement is due in great part to the freedom that it provides. The freedom to travel, re-discover a hobby, or spend time with loved ones, all while untethered from the distractions and restraints of employment. One of the methods available to enjoy this freedom is a Home Equity […]

Use a Reverse Mortgage to Finance Home Maintenance

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Out with the old, and in with the new. It’s the mantra of spring cleaning, and it’s not just relegated to boxes of unused items stored in the garage. With the warmer summer months right around the corner, homeowners should ensure their homes are sealed and as energy efficient as possible. Some repairs are simply […]