HECM. An arrangement in which a homeowner borrows against the equity in his/her home and receives regular monthly tax-free payments from the lender. also called reverse-annuity mortgage or reverse mortgage.
Related information about Home Equity Conversion Mortgage:
- Home Equity Conversion Mortgage Program - HUD
In addition, the HECM mortgage can be used to purchase a primary home when the borrower is 62 years of age or older and is able to use cash in hand, money ...
- HUD FHA Reverse Mortgage for Seniors (HECM)
Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage ...
- Home Equity Conversion Mortgage (HECM ... - Fannie Mae
Home Equity Conversion Mortgage (HECM). Consumer Fact Sheet. August 2004. To provide additional housing finance options for homeowners age 62 or older ...
- Home Equity Conversion Mortgage (HECM) Definition | Investopedia
A type of Federal Housing Administration (FHA) insured reverse mortgage. Home Equity Conversion Mortgages allow seniors to convert the equity in their home ...
- Home Equity Conversion Mortgage Program
Mar 22, 2012 ... Home Equity Conversion Mortgage (HECM) Program The Role of the Aging Network in Assisting Older Mortgagees. HECM Basics ...
- Reverse mortgage - Wikipedia, the free encyclopedia
Several lenders now offer FHA HECM reverse mortgages that have fixed interest rates. ... The Housing and Economic Recovery Act of 2008 provided HECM ...
- Benefits.gov - Home Equity Conversion Mortgages
The Home Equity Conversion Mortgage (HECM) is Federal Housing Administrations (FHA) reverse mortgage program which enables you to withdraw some of ...
- Reverse Annuity and Home Equity Conversion Mortgage
Use our home equity conversion mortgage calculator to find out how reverse annuity mortgages can help you.