Course Detail: LLHMEQ - Using a Home Equity Conversion Mortgage to Finance Long-Term Care at Home
Today's retiree's may find themselves having to consider other options in addition to Social Security, retirement plans, and personal savings to help meet financial needs. HECMs (Home Equity Conversion Mortgage, also called reverse mortgages) can, in the right circumstances and with the right borrower, offer both shorter-term (immediate need) and longer - term benefits and help close in the gaps. HECMs accomplish this by turning part of the equity of their homes into cash they can use today, or a line of credit that will be there when they need it. In addition, a HECM can be used as financing for the purchase of a home. A HECM can also eliminate their existing monthly mortgage payment, if they have one, and supplement their other sources of retirement funds. Retirement shouldn't be about worrying. It should be about enjoying life to the fullest. A reverse mortgage might be the planning tool that can put you on a path towards a more flexible and satisfying retirement.