Reverse Mortgages have been used for home purchase for many years, however, the federally insured version, HECM, has recently become available for financing a home purchase as well. The advantages of the HECM loan are substantial, like low interest rates and FHA insurance but there are the usual drawbacks, like mortgage insurance fees and HUD property regulations.
Posts Tagged ‘Insurance’
Reverse Mortgage for Home Purchase
Posted by Michael Manfredi on March 11th, 2010
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