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A ‘Must Have’. HECM Line of Credit Opens Doors

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The HECM Line of Credit Proves to be an Eye-Opener

Perceptions both open and close the doors of opportunity. In the case of the Home Equity Conversion Mortgage recent changes have improved the program’s perception amongst financial professionals unlocking the potential benefits of the loan’s unique line of credit. Unfortunately the opportunity for older homeowner’s to fully leverage the HECMs benefits has been hampered by media horror stories, an uninformed media and strong public misconceptions. The good news is the tide is beginning to turn.

reverse mortgage news
Historically many financial professionals have eschewed the reverse mortgage believing that the loan existed to only serve the house rich and cash poor, further compounded by the notion the loan costs were exorbitant and often not suited for the average homeowner. That opinion has waned in recent years with suitability improvements limiting first year distributions, reductions in loan costs and the scrutiny entailed with…

 

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