As a reverse mortgage specialist for 11 years, I’ve helped hundreds of senior homeowners put the gold in the golden years with this unique, life changing, government insured program. The Home Equity Conversion Mortgage (HECM) was created by Congress in 1988, as an added benefit for senior homeowners by allowing them easy access to a portion of their home’s equity… And the senior is able to use these funds for anything they want with no monthly payments required. It’s important to note that this helpful benefit from FHA was created just for senior homeowners, 62 and older. In addition, it was not created by a lender for profit and every senior homeowner needs to learn how it works from a professional and get the facts as to its value for them.
