The HECM for purchase seems to be on everyone’s mind these days. As we wait for HUD’s guidance on the program I thought I’d pass along some information that Financial Freedom issued about the HECM for ...

According to the most recent annual report to Congress by the U.S. Department of Housing and Urban Development (HUD), the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program saw its ...

Yes. Known as the HECM for Purchase, this program was designed to allow seniors to purchase a new principal residence and obtain a reverse mortgage within a single transaction. This program has been ...

A home equity conversion mortgage (HECM) is a type of reverse mortgage. The Federal Housing Administration (FHA) insures the mortgage, which helps seniors cash out their home equity. This can be a ...