Hecm

A Home Equity Conversion Mortgage (HECM) is also known as a reverse mortgage. Reverse mortgages are like home equity loans with one major difference. Like a home equity loan, you borrow against the value of your home. And like a home equity loan, you can get the cash from a reverse mortgage in a lump sum or in dribs and drabs as you need it. With a reverse mortgage, you pay back nothing on the loan until you move out of your home or sell it. The proceeds are used to pay off the amount you've borrowed, and the amount you owe is limited to the value of your home. Learn more here about reverse mortgages or a HECM.

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Choices With Reverse Mortgage Payments

Added June 26, 2009 by Samuel J. Tamkin

If you are 62 years or older, you may qualify for a reverse mortgage. Reverse mortgages can come in different forms and give you different choices. You can take a lump sum payment when you obtain a reverse mortgage or you can choose to receive a monthly payment. Reverse mortgage fees can be high and are not for everyone. Reverse mortgage are also known as a home equity conversion mortgage or HECM.

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How Long Does It Take To Recover From Identity Theft?

May 19, 2009

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The average identity theft case takes 26 hours to resolve, but you may be dealing with the effects of identity theft for several years. If someone has used your social security number or other personal information to create a synthetic or false identity, chances are they have used your personal…

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