A Reverse Mortgage
Is it right for you?
Let us show you how to convert a portion of your largest asset- your home equity – to fund your retirement needs.
What is a HECM reverse mortgage?
Home Equity Conversion Mortgages (HECMs), also known as
reverse mortgage loans, were created over 25 years ago to help
Americans age 62 and older convert a portion of their home
equity into tax-free money.† HECM reverse mortgages are
insured by the Federal Housing Administration (FHA) and allow
seniors to age in place and achieve retirement security.
How does it work?
A reverse mortgage loan allows you to turn some of the equity in
your home into cash to improve your lifestyle in whatever way you
choose. You will continue to live in your home, retain ownership
and will not be required to make any monthly mortgage payments
during the loan period. Instead of repaying the loan monthly, the
loan balance is repaid when all borrowers have left the home. You
will be required to pay for property taxes, home insurance and
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COMMON REVERSE MORTGAGE MYTHS
• A reverse mortgage sells the home to the lender
• Heirs will not inherit the home
• The homeowner could get forced out of the home
• You could outlive the reverse mortgage
• Social Security and Medicare will be affected
• The homeowner pays taxes on reverse mortgage proceeds
• There are large out-of-pocket expenses
• A reverse mortgage is similar to a home equity loan