The Home Equity Conversion Mortgage (HECM) is FHA’s reverse mortgage program, which enables you * access to the equity in your home. HECM is a safe plan that can give you greater financial security. It can supplement Social Security, meet unexpected medical expenses, make home improvements, and more.
Benefits of a Reverse Mortgage
Continue to live and own the home without having to make a mortgage payment
Obtain money for things such as home repairs or improvements, property taxes, and more.
Supplement retirement income
Cover medical expenses, and more