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Home Equity Conversion Mortgage (HECM)


        Loan Basics

















        Over 1 million US
        homeowners age 62
        and over have already
        taken advantage of
        Home Equity Conversion
        Mortgage loans (HECMs)
        to enjoy a  better

        retirement.













        What you need to know about HECM loans:                               Ways to receive the loan proceeds

        3 No monthly mortgage payments (borrower must
          continue to pay property taxes, homeowner’s
          insurance, and home maintenance costs)

        3 Borrower must meet the financial requirements of the                3Lump sum
          HECM loan
                                                                              3Monthly installments
        3 HECMs are insured by the Federal Housing
          Administration (FHA)                                                3HECM growing line of credit

        3Deed stays in borrower’s name                                        3A combination of the above













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        Please see reverse side for important disclosure information.                                             AAG040
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