Sometimes we assume everyone else knows what we mean when we use abbreviations or, in this case, an acronym. HECM (heck-um) simply means Home Equity Conversion Mortgage, the most popular reverse mortgage used by over 400,000 senior homeowners.

This loan product is insured by FHA (Federal Housing Administration) – a department under HUD (U. S. Department of Housing and Urban Development).  According to AARP (American Association of Retired Persons) 93% of seniors report satisfaction with this popular loan product available only to homeowners 62 years of age and older.  We don’t know of any other financial product that enjoys such a high level of acceptance…   None!

Author – Robert H. Irving, CSA
Senior Reverse Mortgage Consultant

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