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HECM Reverse Mortgages - You Have to Read This!

What the HECK is a HECM?

If it sounds too good to be true, it might be a HECM.

Safe and secure. Words that describe the way we would all like to live, and the way we want our loved ones to live as well. Those same words describe todays government insured and regulated Home Equity Conversion Mortgage or HECM (pronounced Heck-um) program.

HECM loans are designed to provide seniors (62 and up) with a layer of financial security by allowing them to access the equity in their home with no mortgage payment required (they are optional). Proceeds from a HECM are non-taxable and can be taken in a lump sum, monthly payments, or in a growing line of credit. The funds can be used for many purposes including:

  • paying off an existing mortgage
  • deferring an application for Social Security to maximize benefits
  • making home repairs
  • making home modifications to Age-in-Place
  • paying for home health care or other medical expenses
  • to provide extra income when needed
  • handling unforeseen expenses comfortably
  • enriching the lives of your would-be-heirs during your lifetime so they do not have to wait for an inheritance
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