Sentences with phrase «equity conversion reverse»

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.

Not exact matches

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

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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).

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.

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.

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).

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

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

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.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.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.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.reverse mortgages originated in the United States at this time are home equity conversion mortgage («HECM») loans insured by the FHA.»

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.

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).

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.