If you are considering a reverse mortgage loan, start by understanding how one works and how it will affect you now and in the future. A detailed discussion with a reverse mortgage counselor will give you important information to help ...
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A Home Equity Conversion Mortgage (HECM), the most common type of reverse mortgage, is a special type of home loan only for homeowners who are 62 and older. A reverse mortgage loan, like a traditional mortgage, allows homeowners to borrow ...
A home equity loan (sometimes called a HEL) allows you to borrow money using the equity in your home as collateral. Equity is the amount your property is currently worth, minus the amount of any existing mortgage on your property. ...