Got it Right? Explaining the HECM Line of Credit

Shannon Hicks March 21, 2018 1

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Many get it wrong- are you correctly explaining the line of credit

reverse mortgage newsSolid product knowledge brings sales confidence. How accurate is your description of how the HECM line of credit (principal limit growth rate) works?  Join Norcom Mortgage today and let them help get you started!

About John Luddy: John has trained reverse mortgage professionals how to be successful when sitting face-to-face at the kitchen table with prospective HECM borrowers. Norcom is looking for qualified loan officer candidates. To learn more call 1-860-507-2582 or email John Luddy here

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One Comment »

  1. The_Critic January 26, 2018 at 12:07 pm - Reply

    John,

    This is one point that needs strong emphasis as does the availability of any cash used to pay down the balance due for future draws. This also needs to be developed to show how the fixed rate HECM is different and the cash from any pay down of the balance due is lost to the borrower until there is a refinance or sale.

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