What Is A HECM 4 Purchase… And Why Should I Use It To Buy My Next Home?
First, a Home Equity Conversion Mortgage is an FHA insured, HUD regulated reverse mortgage. In fact, a HECM is the only reverse mortgage overseen and heavily monitored by the government specifically to protect senior’s home ownership interests. But, an HECM 4 Purchase (H4P) is a very special reverse mortgage available to anyone 62 years of…
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Buy Your Next home Or Refinance Your Mortgage With No Personal Guarantee? Absolutely!
Did you know the FHA Home Equity Conversion Mortgage (HECM) is the only home mortgage available that has absolutely no personal guarantees to borrowers or heirs? In fact, the home is the sole collateral on the loan. Even better, did you know there is also only one home mortgage that: Cannot be called by the lender regardless of…
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Not Your Parents Reverse, And Definitely Not A Loan Of Last Resort
This is not your parent’s reverse mortgage This is not your parents reverse mortgage; Reverse Mortgages, specifically the Home Equity Conversion Mortgage (HECM) insured by the FHA and governed by HUD, have come a long way from the wild west days. Since when? Oh, prior to around 2011! Here is just a brief list of…
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