Understanding FHA’s Reverse Mortgages for Seniors-HECM-Home Equity Conversion Mortgage
By Mark Maupin See Blog Free Investors Training, National Real Estate Investors Network Host
(National Real Estate Network, LLC)
Federally Regulated and Government Insured Program Designed for Seniors age 62 and over Reverse Mortgages are an excellent way to access the equity in your home to pay off your existing mortgage and enjoy the peace of mind with a financially secure retirement. You can also use your proceeds to make home improvements, consolidate debt, pay for medical expenses, or simply to add to your present retirement income. Under a reverse mortgage, you continue to own your home, with no monthly payments. This program, guaranteed by the Federal Housing Administration and funded by Fanny May, is a safe solution for your needs. With this FHA regulated program you are entitled to receive free independent counseling. Available Cash Based on Home Value Home Value$100,000$250,000$400,000Your Age: ...
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