The HECM Line of Credit: It Should be Called the “Retirement Mortgage”

Happy senior people cheering with red wine at christmas dinner

I need to straighten something out that is both important and widely misunderstood. HECM is the acronym used to describe the federal government’s insured mortgage program for homeowners over age 62… it stands for Home Equity Conversion Mortgage.  It’s also described as a “reverse mortgage,” which makes it sound like something that should be avoided […]