What Does HECM Stand For ? - Z Reverse Mortgage
HECM stands for Home Equity Conversion Mortgage. An HECM reverse mortgage is a loan regulated and insured by the Federal Housing Authority. Because it is government insured, your home will be protected even if your lender goes out of business or if your loan exceeds the value of your home. The loan will not have to be repaid until the house is sold, the owner dies, or the owner no longer uses the house as his primary residence.
HECM stands for Home Equity Conversion Mortgage. An HECM reverse mortgage is a loan regulated and insured by the Federal Housing Authority. Because it is government insured, your home will be protected even if your lender goes out of business or if your loan exceeds the value of your home. The loan will not have to be repaid until the house is sold, the owner dies, or the owner no longer uses the house as his primary residence.
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Z <strong>Reverse</strong> <strong>Mortgage</strong>
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