With the new FHA reverse mortgage program, or Home Equity Conversion Mortgage (HECM), seniors who make a substantial down payment can purchase their dream home and have no payments for their rest of their lives.
That’s right. No mortgage payments at all. Not ever.
With an HECM, they may convert the equity in their current home into monthly, tax-free cash payments or a line of credit to access cash whenever needed.
Give me a call and let’s talk about how to get you into that