Unlock the Power of Home Equity with a HECM

There are numerous benefits associated with taking out a HECM loan. For starters, it allows seniors to access additional retirement funds without having to downsize or move away from their current homes (which can be especially beneficial if they’ve built up equity in those homes). Additionally, because these loans do not require monthly payments like traditional mortgages, seniors can use the proceeds from these loans however they see fit – such as for medical bills, travel expenses or even investing in more real estate – without worrying about accumulating more debt. Finally, these loans may also serve as an additional source of income during retirement since borrowers receive regular payments from lenders based on their loan balance until it is repaid in full.  Why not leverage your home’s equity for investment income instead of using your retirement fund accounts like an IRA or even your pension fund for living expenses during retirement?  Many seniors use these funds to pay their mortgage payments, sometimes due to the loss of a spouse and their income contributions that have been helping them with living expenses.  With a HECM, you not only can use the equity in your home to help subsidize the need for monthly retirement income, but also reduce your mortgage payment or remove it entirely.