Some of you know I am writing at Examiner.com as the Mortgage Industry Examiner from the Atlanta edition. There are many viewpoints and experiences with reverse mortgages. I would love to read yours or hear them. Feel free to call and share at 678-439-8683
Essentially the HECM is a refinance loan which works in the reverse manner from a standard home mortgage. Instead of the home owner leveraging the equity in their property and borrowing a lump sum using their home as collateral the lender will send a check to the home owner on a monthly basis and slowly consume the equity.
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