C2 Reverse Mortgage

A Home Equity Conversion Mortgage (HECM) is the formal name of the federally-administered loan that many commonly refer to as the 'reverse mortgage' loan. The Home Equity Conversion Mortgage is administered by H.U.D. (The Department of Housing & Urban Development) and may help qualified homeowners 62 and older enhance their cash flow during retirement. There may also be private jumbo reverse mortgages available in your area for higher-valued properties (usually over $700,000 in value) which are not insured by FHA. Jumbo reverse mortgage loans are unique and their features and requirements vary by the lender offering them.