What is a HECM ?

Home Equity Conversion Mortgages (HECM) have been in existence since 1988. You may know them as reverse mortgages. Since then, many changes have been added to this program which allows seniors to access equity in their homes without incurring a monthly payment obligation for long as you live in your home. These changes have been added to ensure that seniors have maximum protection of their homes and the equity they have built up in them. Reverse mortgages are regulated by the Department of Housing and Urban Development (HUD) and they are insured by the Federal Housing Administration (FHA) so you can rest assured that there are protections in place for you and your family!

Basic Qualifications For A Reverse Mortgage

• One borrower must be 62 years of age or older
• You must own your own home as your primary residence.
• You must have enough equity to pay off your existing mortgage (if any) and closing costs.
• You must meet minimum reverse mortgage approval guidelines.

Remember, you still own your own home, so you must continue to pay your real estate taxes, homeowners’ insurance and keep your home in good repair.

Dan Is Here To Help!

Of course, there are many questions you may have about the reverse mortgage program. That is why Dan is here to help. Dan will sit down with you to find out what your needs are and how the reverse mortgage program might be able to address these needs. The goal is to help you to continue to live in the comfort of your own home!

Call Dan today at +1 9782398446 and take the first step to financial freedom.