Understanding Reverse Mortgages
3 Types of Reverse Mortgages: 1. Ā Home equity conversion mortgages A home equity conversion mortgage or HECM (pronounced āheck āemā) is the only type of reverse mortgage thatās backed by the Federal Housing Authority. Available through FHA-approved lenders, HECM reverse mortgages are the most common type of reverse mortgages. HECM loans give borrowers the largest [ā¦]
The post Understanding Reverse Mortgages appeared first on SeniorNews.