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A HECM can enable a better retirement

You worked hard for the American dream. Let it pay you back.

Sukesh Shekar avatar
Written by Sukesh Shekar
Updated over a year ago

A HECM can improve lifestyle during retirement when used responsibly.

  1. The proceeds from the reverse mortgage can be used to pay off debt, including your mortgage and revolving loans, to improve cash flows and financial stability.

  2. A reverse mortgage to fund home renovations and age-in-place and allow for in-home assisted care.

  3. Some reverse mortgages come with an expanding line of credit that can be reversibly drawn on to travel or pursue hobbies and spend more time with loved ones. This can help you make the most of your retirement years and improve your overall quality of life.

A HECM can also help you plan for a long life.

  1. HECMs are calculated based on life expectancy and are not required to be repaid during occupancy. If you live long and the loan balance grows higher than the remaining equity in your home, you can continue aging in place as long as you stay current with taxes and maintenance. HECMs are insured against long-life expectancies by the FHA so the borrower or heirs aren't responsible.

  2. A HECM can help delay social security collection to maximize the benefit.

  3. Using a HECM in coordination with other retirement accounts like a 401k or IRA can make them last longer


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