reverse mortgage

(redirected from Home Equity Conversion Mortgage)
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reverse mortgage

n.
A mortgage in which a homeowner, usually an elderly or retired person, borrows money in the form of annual payments which are charged against the equity of the home.
References in periodicals archive ?
Department of Housing and Urban Development (HUD), through the Federal Housing Administration (FHA) and its Home Equity Conversion Mortgage (HECM) program.
The Federal Housing Administration (FHA) today issued a new policy under its Home Equity Conversion Mortgage (HECM) Program giving FHA-approved lenders the option to delay calling HECMs with eligible non-borrowing spouses due and payable.
Reverse mortgages are offered in a variety of ways in the marketplace, but only one type is offered by the government, which is the Home Equity Conversion Mortgage or HECM.
s Reverse Mortgage Network lands the number nine spot in the Top 100 Retail Home Equity Conversion Mortgage (HECM) Lenders Report.
based credit union will offer the Federal Housing Administration's Home Equity Conversion Mortgage and a proprietary reverse mortgage developed by the Tampa, Fla.
The home equity conversion mortgage, commonly referred to as a reverse mortgage, was designed as a way for older homeowners to tap the equity of their homes for needed cash while remaining in their homes.
Among the changes Galante announced was a move to make the Fixed Rate Saver Home Equity Conversion Mortgage (HECM) the only pricing option available to borrowers seeking a fixed-rate reverse-mortgage product through FHA.
A reverse mortgage is a special type of home loan, also known as a Home Equity Conversion Mortgage (HECM), that lets senior citizens convert a portion of the equity in their home into cash.
B and a leading reverse mortgage lender, is a new issuer under Ginnie Mac's Home Equity Conversion Mortgage (HECM) Mortgage-Backed Securities (HMBS) program.
Once I learned the facts about reverse mortgage loans, especially the FHA Home Equity Conversion Mortgage (HECM) program, I felt strongly that we need to provide our users with the ability to evaluate reverse mortgage loans as part of their financial planning process.
Nuts and Bolts)" provides senior homeowners insight on reverse mortgage information and how taking on a home equity conversion mortgage today can help secure costs in the long run.
The Federal Housing Administration's (FHA) reverse mortgage program is known as a Home Equity Conversion Mortgage (HECM), and enables seniors to receive monthly payments by converting their home equity to cash.
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