HECM stands for home equity conversion mortgage – otherwise known as a reverse mortgage. Now before you stop reading this blog take a few minutes to understand how this financial planning tool can be used in a wide variety of scenario’s for people over age 62. Think of a HECM as a home equity credit line that increases by 4% per year whether you use it or not. And, you don’t necessarily have to pay the money back. Of course there is much more to it than that, but, we hope the whitepaper by Longbridge Financial helps clear up some outdated information and open up new possibilities for your retirement years.
We would be happy to answer any questions raised or connect you with the folks at Longbridge.