Reverse Mortgage - Home // Reverse Mortgage -

The Reverse mortgage or HECM loan are almost always misunderstood.

The most common misconception is that the home signed over to “the Bank” or a financial institution. Nothing could be further than the truth.

Below is what a Conventional Mortgage and a Reverse Mortgage have in common:
  • You or your estate (in the form of a trust) hold title to the property.
  • If you make a payment to the principal your loan balance decreases. That is correct you can make a payment, even monthly payments, if you desire.
  • You can pay the loan off in full at any time without a prepayment penalty.
  • You can sell your home at any time if you choose to.
  • You can access cash out for financial or other needs.
  • You can use the loan to purchase an owner occupied property.

The best news is with a reverse mortgage, there are no monthly payments required. You remain the owner of your home and repayment of the mortgage is deferred for as long as you live in the home.

If you don’t make a payment you ARE NOT put into foreclosure. The balance simply increases as interest is added over time.

For many homeowners, a reverse mortgage provides a safe and secure means to remain in their home and access cash to improve their quality of living.