What is a HECM?

How much can you get from a HECM reverse mortgage? Find out using our proprietary HECM reverse mortgage calculator: https://www.myhecm.com/calculator What is a HECM reverse mortgage? The HECM reverse mortgage is designed to give seniors 62 or older access to a large portion of their home's value without a mortgage payment or giving up ownership of the home. No mortgage payments are required as long as at least one borrower (or non-borrowing spouse) is living in the home and paying the required property charges. You always remain the owner of the home and are free to leave it to your heirs, who will inherit the equity in the home. The HECM reverse mortgage is a non-recourse loan. That means the most that will ever have to be repaid is the value of the home. Proceeds can be received in the form of a lump sum, line of credit, monthly income, or some combination of all three! Seniors commonly use the HECM reverse mortgage to get rid of existing mortgage payments, other debts, finance home improvements, or supplement existing income and assets. How much can you get from a HECM reverse mortgage? Find out using our proprietary HECM reverse mortgage calculator: https://www.myhecm.com/calculator