A HOME EQUITY CONVERSION MORTGAGE OTHERWISE KNOWN AS A REVERSE MORTGAGE IS TIGHTLY REGULATED BY HUD AND INSURED BY FHA.
Since everyone's needs and wants are different, a SENIORS REVERSE MORTGAGE Specialist will explain the pluses and the minuses, the different options you can have, so that you can make an informed choice.
Ask how you can purchase a home with the new HECM for purchase program!
THE 2010 FHA LIMIT FOR REVERSE MORTGAGES IS $625,500 NATIONWIDE.
HECM - Home Equity Conversion Mortgage
A Home Equity Conversion Mortgage (HECM) is a federally insured reverse mortgage. Over ninety percent of all reverse mortgages are HECMs. The Federal Housing Administration (FHA) sets the limits on how much of your equity you may tap into, based on your age, your home's value minus any mortgage balance you now owe.
| We just had our retirement pension reduced. This made all our plans obsolete. Now that we have gotten our reverse mortgage we are getting a monthly income greater than before. Thank you Seniors Reverse Mortgage Solutions. |
| Judy and Jack, Prescott Valley, AZ |
|
