Will the lender own my home with a HECM mortgage?
No, the lender does not take control of title. The borrower will retain ownership of the home and rights to title. The lender’s concern is limited to the outstanding balance of the loan.
No, the lender does not take control of title. The borrower will retain ownership of the home and rights to title. The lender’s concern is limited to the outstanding balance of the loan.