HECM – Use As A Financial Tool

HECM

“AKA Reverse Mortgage”

A Home Equity Conversion Mortgage (HECM), commonly known as a reverse mortgage, is a federally insured loan designed for homeowners over the age of 62. This loan allows you to withdraw some of the equity in your home to give you the financial flexibility you may need to make home improvements, payoff debt, cover healthcare or long term care costs or simply live a more comfortable retirement.

You are free to live in your home as long as you want, the loan balance, including accrued interest and fees become due when the borrower no longer occupies the residence or passes away. Borrowers are required to follow the terms of the loan on-going.

Here are some questions you can ask yourself to see if a reverse mortgage is right for you:

What are your current housing and financial needs?
Do you anticipate that your housing and financial needs will change in the short term? If so, how?
What will you need to stay in your home over the long term?
Is your current income covering your expenses? Will it continue to do so in the future?
Do you have enough money set aside to cover spending shocks, such as a roof replacement, a new car or unexpected medical expenses?
Would an additional source of retirement income allow you to live more comfortably in retirement.

There are many reason homeowners take out a Home Equity Conversion Mortgage. Some wish to improve their retirement lifestyle. Others are looking for protection against longevity and outliving their money. Whatever the use may be Reverse Freedom is here to assist you with your retirement and helping you gain access to funds you need.

You’ve worked hard – this can change your life!

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HECM – Use As A Financial Tool

HECM

“AKA Reverse Mortgage”

Here are some questions you can ask yourself to see if a reverse mortgage is right for you:

What are your current housing and financial needs?

Do you anticipate that your housing and financial needs will change in the short term? If so, how?

What will you need to stay in your home over the long term?

Is your current income covering your expenses? Will it continue to do so in the future?

Do you have enough money set aside to cover spending shocks, such as a roof replacement, a new car or unexpected medical expenses?

Would an additional source of retirement income allow you to live more comfortably in retirement.

You’ve worked hard – this can change your life!

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