Sentences with phrase «equity conversion mortgages»

Our carefully chosen facebook content is designed to help homeowners 62 + gain clarity around ways of leveraging home equity conversion mortgages (reverse mortgages) to improve their retirement income and increase their confidence and ability to handle unexpected expenses.

Most reverse mortgages are home equity conversion mortgages (HECMs) offered through the Department of Housing and Urban Development and are guaranteed by the Federal Housing Administration.

Most reverse mortgages are home equity conversion mortgages (HECMs).

The FHA has seen a greater volume of reverse mortgages, known as home equity conversion mortgages, or HECMs.

Home equity conversion mortgages, or HECMs.

Since 1989, the U.S. Department of Housing and Urban Development has worked with private lenders to administer what are officially called home equity conversion mortgages, commonly called reverse mortgages.

What remains to be seen is whether or not reverse mortgage loans, also called home equity conversion mortgages or HECM loans, can continue to serve their intended purpose.

FHA reverse mortgages, also called home equity conversion mortgages (HECM), provide homeowners 62 and over with a method for paying off existing mortgages and drawing on remaining home equity.

Fact: Home equity conversion mortgages are non-recourse loans.

What the government calls home equity conversion mortgages — HECMs — have been a trouble spot for the FHA because of high claim levels.

In all references, this refers to the same loan product: a government - insured home equity conversion mortgage or reverse mortgage.

Not should the FHA ask Congress for $ 800 million to support the home equity conversion mortgage (HECM) program, but should the FHA be insuring loans which are increasingly risky.

Through a home equity conversion mortgage — otherwise called a reverse mortgage — homeowners age 62 or older could obtain a loan that would convert the equity in their home into cash.

By using your largest asset — your home — a home equity conversion mortgage allows you to pay off bills now, help with expenses, access funds later, or all of these!

Also known as a home equity conversion mortgage, a reverse mortgage can use your existing equity to pay off the remainder of your mortgage.

Otherwise known as a home equity conversion mortgage, a reverse mortgage uses your current home equity to pay off your remaining mortgage, with any remaining money available for your use tax - free.

Also known as a home equity conversion mortgage, a reverse mortgage can use your existing equity to pay off your remaining mortgage, with any remaining tax - free money available for your use.

Just like any other mortgage, with a home equity conversion mortgage, your name remains on the title.

Also known as a home equity conversion mortgage, a reverse mortgage can use your existing equity to pay off your remaining mortgage and give you the remaining money to use however you please.

Also known as a home equity conversion mortgage, a reverse mortgage can use your existing equity to pay off your remaining mortgage.

Our company makes getting a home equity conversion mortgage easy, with a simple application process and the ability to close your loan in the comfort of your home.

A home equity conversion mortgage is a non-recourse loan.

If you're refinancing to a reverse mortgage, FHA insures these loans through its home equity conversion mortgage program (HECM).

A reverse mortgage, also called a home equity conversion mortgage (HECM), lets seniors who are at least 62 years old access the home equity from their primary residence in the form of a lump sum, a line of credit, a stream of monthly payments or some combination of these.

If you own your own home and are 62 years of age or older, you may be able to leverage the equity in your home through a reverse mortgage, or home equity conversion mortgage (HECM).

If you are a homeowner aged 62 or older and you are considering a reverse mortgage (also known as a home equity conversion mortgage or HECM), then you might find this information interesting.

Reverse Mortgage Counseling We help to educate seniors on the benefit, consequences, option and process of obtaining a home equity conversion mortgage, and enable them to make a more educated decision about whether this type of loan is right for them.

And, for parents who have seen the value of their homes rise dramatically in the last 10 years, a reverse mortgage or home equity conversion mortgage (HECM) is often an attractive way to assist adult children in entering the property market.

In fact, reverse mortgages are one of the few types of financial transactions that have federally mandated financial counseling that go along with funding for an home equity conversion mortgage (HECM).

Reverse Mortgage Also called «equity conversion mortgage,» these loans permit senior citizens to convert the equity in their homes to income.

With 10,000 baby boomers retiring each day, and most of them with underfunded retirement plans, the home equity conversion mortgage is quickly becoming the most popular way for them to actually enjoy retirement!

Filed Under: Downey Tagged With: Downey, HECM, home equity conversion mortgage, line of credit, mortgage, reverse mortgage

ReverseVision, Inc. is the leading software and technology provider for the reverse mortgage industry, offering products and services focused exclusively on the home - equity conversion mortgage (HECM) and related reverse mortgage programs.

And, of course, you could still borrow using a reverse mortgage or home equity conversion mortgage (HECM — a reverse mortgage backed by the Federal Housing Administration).

If you're 62 or older, it might make sense to establish a line of credit using a reverse mortgage (under the federal home equity conversion mortgage program), says Shelley Giordano, principal of Longevity View Associates, a reverse mortgage consulting firm.

A home equity conversion mortgage (HECM)-- commonly called a reverse mortgage — allows owners to convert this accumulated home equity into cash.

Established in 1997, the National Reverse Mortgage Lenders Association (NRMLA)» is the national voice of the reverse mortgage industry, serving as an educational resource, policy advocate and public affairs center for lenders, as well as related professionals... Over 90 % of the reverse mortgages in the United States today are originated or purchased by NRMLA members, and over 95 % of the reverse mortgages originated in the United States at this time are home equity conversion mortgage («HECM») loans insured by the FHA.»

The changes were made in response to the losses suffered by the FHA in connection with the home equity conversion mortgage (HECM) program.

The home equity conversion mortgage program was initially set up to help senior homeowners remain in their homes and not be used to meet short - term financial needs.

The reverse mortgage — or home equity conversion mortgage — has no predetermined maturity date.

Most reverse mortgages are insured by the Federal Housing Administration, which calls the loan a home equity conversion mortgage, or HECM (pronounced HECK'm).

In this article, I show that the benefits of opening a home - equity conversion mortgage (HECM) line of credit extend beyond meeting spending needs.

Yet most retiring seniors own homes in which they have significant equity, which could be unlocked by taking a home equity conversion mortgage, or HECM.

Not exact matches

All that said, reverse mortgages, which usually come in the form of federally insured home - equity - conversion mortgages (HECMs), can be the right option for the right people in the right circumstances.

In essence, a reverse mortgage is loaned to the homeowner against the available home equity in the property as the term «home equity conversion loan» is often used.

HUD became involved in reverse equity mortgages in 1985 when the agency sponsored a conference on home equity conversion.

Addressing concerns about increasing default rates for reverse mortgage loans, FHA has issued new guidelines for servicing reverse mortgages, which HUD calls home equity conversion (HECM) loans.

Third, you have to wonder why the FHA continues to insure reverse mortgages, what HUD calls home equity conversion loans (HECMs).

A reverse mortgage, also known as a home equity conversion loan (HECM), is a tool designed to help eligible homeowners 62 years and older to access the equity in their homes.

In the case of home equity conversion reverse mortgages, the loans are non-recourse, meaning that even if the house sells for less than the balance of the loan, the lender will not seek to recoup the difference from the borrower or the borrower's estate.