How can I receive proceeds from the HECM loan? Is a monthly disbursement my only option?

Proceeds from the HECM are tax-free and can be distributed in a variety of ways based on the borrower’s choosing. Among these are: monthly disbursements (set to be distributed for the lifetime of the borrower or for a specific amount of time), a single lump sum received at funding, a stand-by line of credit to be drawn upon when the borrower chooses or a combination of monthly disbursements with a line of credit.