How a Reverse Mortgage (or HECM) Works

A HECM is a type of home equity loan that allows you to convert some of the equity in your home into cash while you retain home ownership.

Unlike conventional home equity loans, the FHA HECM does not require repayment of principal or interest for as long as you live in your home.

For more information on reverse mortgage, see my YouTube video called The Basics of How a Reverse Mortgage Works:

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