In the spring of 2015, the most significant change in the history of Home Equity Conversion Mortgage (HECM) reverse mortgages went into effect. For the first time since the inception of the program, the homeowner’s ability and willingness to manage his/her financial obligations have become part of the qualifying process for a HECM. These and other
J Scott Funk
NMLS # 71312
Company NMLS ID 1025894
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We hope you find this very different from other reverse mortgage websites, because our goal is to answer your questions, not to ask questions about you. Read More >>
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If you have questions I’d like to answer them Please keep in mind these are my answers and may not reflect legal definitions, the views of my employer or the general consensus of the reverse mortgage industry
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MoreTime for Advisors to get in the Game
Whether you are a financial planner, advisor, wealth manager, attorney or CPA it is time for you to get off the sidelines and participate in the Home Equity Conversion Mortgage (HECM) discussion. Don’t know what a HECM is? (How embarrassing.) It is a federally insured reverse mortgage. Your clients are looking into these in increasing numbers they
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MoreThe Housing Inheritance Myth and Reverse Mortgages
The reason I call it the “Housing Inheritance Myth” for people considering reverse mortgages is that the gap between desire and reality is so wide. Yes, myth may be a bit strong, but bear with me a bit while I try and explain myself. Passing one’s home along to one’s children is part of the American Dream of home ownership. We inherited that dream
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