reverse mortgage

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Related to Home Equity Conversion Mortgages: reverse mortgage

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 ?
FHA home equity conversion mortgages (known as reverse mortgages) and FHA Title I loans (financing for permanent property improvements and renovations) are the exception -- and won't be processed during the shutdown.
20 submitted a letter to the Federal Housing Administration in response to its requirement of a second appraisal for some home equity conversion mortgages, or reverse mortgages, asking the FHA to reevaluate eligibility requirements for placement on the FHA Appraiser Roster.
Contract Awarded for Home Equity Conversion Mortgages (HEMC)
Using home equity conversion mortgages -- commonly known as reverse mortgages -- strategically can help improve clients' retirement sustainability and build a larger legacy to leave their heirs, according to Wade Pfau, professor of retirement income at The American College and director of retirement research at McLean Asset Management and inStream Solutions.
The 69-year-old actor can be seen on a variety of marketing materials as well as the Facebook[TM] and LinkedIn[R] pages of USA Reverse, an online lead generator that promotes its services as helping people understand Home Equity Conversion Mortgages. The company also allows would-be borrowers to compare various reverse-mortgage lenders.
Most reverse mortgages are Home Equity Conversion Mortgages (HECMs), which are offered by private lenders and insured by the FHA; borrowers must be at least age 62.
Urban is an originator of home equity conversion mortgages, also referred to as reverse mortgages, in the US.
Urban is focused on home equity conversion mortgages (HECM), also known as reverse mortgages.
Wells Fargo Home Mortgage (NYSE: WFC) has said that it will discontinue the origination of Home Equity Conversion Mortgages (HECM), commonly known as reverse mortgages.
Reverse mortgages, also known as home equity conversion mortgages, are becoming more popular among older Americans, the report notes.
Home equity conversion mortgages, or reverse mortgages, also declined in volume to $3.9 billion in the second quarter from last year's $8.1 billion and the first quarter's $5.9 billion.
That's the advice in the NCUA's Regulatory Alert, which reminded credit unions that home equity conversion mortgages are only available through Federal Housing Administration approved lenders.
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