What Would the Trump Administration Do to Reverse Mortgages or HECMs?
Reverse mortgages are among the best financial tools for senior homeowners who aspire to supplement their retirement income. In fact, reverse mortgages or HECMs are blessings for aged borrowers. Why so? Because borrowers aged 62 or above can convert home equity into cash and have multiple payback options such as a lump sum, monthly payments, or a line of credit. As these loans are insured by the Federal Housing Administration…