Financial Freedom offers a suite of HECM reverse mortgage that may satisfy an array of financial needs:
Home Equity Conversion Mortgage (HECM)
The Home Equity Conversion Mortgage (HECM) is a federally-insured program that allow senior homeowners age 62 years or older to convert a portion of the equity in their homes into tax free cash they can use for any purpose. Borrowers can receive their funds as a lump sum, line of credit, monthly income, or a combination of these while:
- Keeping title to their home
- Having virtually no income or credit to qualify
- Not being required to make monthly mortgage payments
- Not having to repay the loan until the last borrower permanently moves out