June 27, 2017

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Articles Published in: May 2009

FHA Reverse Mortgage

Repaying an FHA Reverse Mortgage

When you take out an FHA reverse mortgage or HECM, no payments are due until you sell the home. Did you know there are other situations that could make your loan come due? Here are four situations to be aware of that cause your FHA reverse mortgage to come due even if you haven't sold your home.

 

The FHA Reverse Mortgage or Home Equity Conversion Mortgage

Homeowners who want to take advantage of the equity built up in their homes over the years have conventional loan options to choose from, but did you know the FHA also offers reverse mortgages to those who qualify? The FHA offers Home Equity Conversion Mortgage (HECM) loans, also known as FHA reverse mortgages.