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Reverse Mortgages What is a Reverse Mortgage? A reverse mortgage is a loan against your home’s equity that allows you to convert the equity in your home into cash without having to repay the loan while you’re living in the home. A Home Equity Conversion Mortgage (HECM) is a reverse mortgage that is insured by the Federal Housing Administration (FHA), part of the U.S. Department of Housing and Urban Development (HUD). With a HECM, you have multiple options for receiving payments, with no limitations on how you use the money. You can use a HECM to pay for medical expenses, house repairs, travel, or any other living expenses. How do I qualify for a Reverse Mortgage? Before you can qualify for a U.S. Government-insured reverse mortgage you must:
For additional information on Reverse Mortgages see any of the links below:
Jennifer Hart, CSA Reverse Mortgage Specialist / Certified Senior Advisor "Home Made Money for Seniors" Email: jenniferhartcsa.com Cell: (630) 532-9189 Pager: (847) 210-3280 Fax: (630) 830-4469 Professional Accurate Real Estate Appraisals, Ltd. is an Approved appraisal company with Financial Freedom Senior Funding Corporation |