Reverse Mortgage

Home Equity Conversion Mortgage (HECM)

Some seniors may find themselves with a limited income that keeps them from being able to make all their payments for everyday living. Instead of losing their home, a reverse mortgage is an option to can help cover their expenses.

What are the benefits of a reverse mortgage?

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  • Allows borrowers to take equity out of their home without having to sell or make payments on it.
  • Makes it easier to cover everyday expenses.
  • Must be 62 years of age or older.
  • The reverse mortgage is paid after the home is sold or when the borrower dies or moves out.

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