Posts tagged with hecm for purchase

  • 16
  • Oct2020
Your Financial Lifeline is Waiting

Your Financial Lifeline is Waiting

“When my husband died several years ago, I became the sole supporter of my household. I worked hard to make my house payments but found myself struggling, falling deeper into debt each month. My son encouraged me to get a reverse mortgage but I was stubbornly determined to go it alone. My son set up […]

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  • 17
  • Oct2019
Buying your next new home using a Home Equity Conversion Mortgage: How does it work?

Buying your next new home using a Home Equity Conversion Mortgage: How does it work?

The Home Equity Conversion Mortgage for Purchase, or HECM for Purchase, allows seniors to buy a new home by putting a reverse mortgage on it. A reverse mortgage is a type of home equity loan that allows senior homeowners age 62 or older to borrow against the value of their homes. No repayment of the […]

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