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Archives: FAQ

FAQs

What if my home needs some repairs? Am I disqualified from getting a HECM loan?

We may be looking to downsize, is the HECM only used for refinances?

How difficult is it to qualify for a HECM?

Will the proceeds from the HECM affect my Social Security or Medicare benefits?

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

When I pass away, will my heirs be responsible for the repayment of the HECM loan?

Will the lender own my home with a HECM mortgage?

Are monthly payments required on the HECM mortgage?

Options for refinancing an existing reverse mortgage