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Myths and Realities
Preparing for a better retirement includes knowing the
difference between the myths and facts of a HECM loan. As with
any home equity solution, there are common misconceptions
about how it works. The pros often outweigh the cons when
you know the difference. Do you know the facts?
www.aag.expert/AAG037 www.aag.com/legal-information/
www.nmlsconsumeraccess.org NMLS ID: 9392 [INSERT LO
NMLS#]
Image 58_Consumer_Myths and
Realities

Myth or Reality? Once loan proceeds are received, you pay
taxes on them. MYTH. In fact, like any loan, HECM proceeds are
paid out tax-free as they are not considered income. Want to
know more realities of a HECM loan? www.aag.expert/AAG037
www.aag.com/legal-information/
www.nmlsconsumeraccess.org NMLS ID: 9392 [INSERT LO
NMLS#]
Image 59_Consumer_Myths and
Realities

Myth or Reality? The lender owns the home. MYTH. In fact, like
all mortgage loans, the HECM loan is secured by a lien. The
lender does not own the home, as long as you meet the loan
obligations such as paying property taxes and homeowners
insurance. www.aag.expert/AAG037 www.aag.com/legal-
information/ www.nmlsconsumeraccess.org NMLS ID: 9392
[INSERT LO NMLS#]
Image 60_Consumer_Myths and
Realities