Sentences with phrase «home equity conversion mortgage»

The loans, called home equity conversion mortgages by the agency, are more volatile than regular mortgages and have been weighing down the performance of the agency's insurance fund.

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

What are the risks of reverse mortgage loans, and are FHA reverse mortgages — also known as home equity conversion mortgages, which make up the vast majority of reverse mortgages — safe for consumers?

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.

One Reverse Mortgage offers three types of home equity conversion mortgages, all of which are insured by the FHA.

(MCT)-- My last column discussed some modest initiatives my colleagues and I have taken to help enlarge the market for home equity conversion mortgages, or HECMs.

(TNS)-- Federal Housing Administration - backed home equity conversion mortgages, or HECMs, are accessible to homeowners 62 and older.

Reverse mortgages are also known as home equity conversion mortgages (HECMs), which are insured by the Federal Housing Administration (FHA).

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.

Now, several prominent financial advisors and academics say that if used correctly, a home equity conversion mortgage (HECM) can help make retired clients» assets last decades longer.

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

As to reverse mortgages — what HUD calls home equity conversion mortgages (HECMs)-- those loans remain attractive for many borrowers — but have become troublesome for HUD to insure because of falling home values.

Also referred to as a home equity conversion mortgage (HECM), a reverse mortgage is a loan made by a lender to a homeowner that uses the home as security or collateral.

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!

Our new guide has useful information about the steps to get a home equity conversion mortgage, what to expect, client stories, and loan product information.

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

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

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.

The Federal Housing Administration insures all home equity conversion mortgages in the country, making it easy to find reverse mortgage licensed specialists in Maryland.

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.

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

A benefit with the home equity conversion mortgage is that there is no minimum required credit score.

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

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.

Homeowners 62 and older may benefit from a home equity conversion mortgage (HECM).

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).

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.

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).

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!

Home equity conversion mortgages, or HECMs.

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

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).

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.

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

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