HousingWire’s RMD spoke with two real estate agents about the HECM for Purchase program as a viable source of business.

With over three years of experience writing in the housing market space, Robin Rothstein demystifies mortgage and loan concepts, helping first-time homebuyers and homeowners make informed ...

Types of reverse mortgages Reverse mortgage pros and cons Reverse mortgage programs ... HECM for purchase: Government-backed loans designed solely for purchasing a home versus leveraging the ...

Reverse mortgages are a type of home loan available to homeowners age 62 and older. The Home Equity Conversion Mortgages (HECMs) program is administered by HUD (the Housing and Urban Development ...

If you qualify, you can borrow against that equity to access cash. Three common avenues for doing so are reverse mortgages, home equity loans and cash-out refinancing. A reverse mortgage is a loan ...

Each spouse could then use their share of the proceeds toward the down payment on a new home purchase ... programs, such as Medicaid. It's important to understand how a reverse mortgage might ...

Source: U.S. Census Bureau, Survey of Income and Program Participation ... Therefore seniors who applied for a reverse mortgage and learned they overvalued their home were likely to not bother ...