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Real Estate
The Real Estate Adviser |
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August 3, 2006
The Real Estate Adviser: Reverse mortgages get more attractive
By TOM KELLY
Special to the Journal
Special to the Journal
One of the chief knocks against reverse mortgages is that the most popular program does not go far enough in extending seniors the funds they need.
The Home Equity Conversion Mortgage, or HECM, is insured by the Federal Housing Administration, a part of the U.S. Department of Housing and Urban Development, and makes up more than 80 percent of all the reverse mortgages written in the country.
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