Reverse Mortgage Myths
As Reverse Mortgages have increased in popularity, so have the myths about these unique loans. Most of us were raised to believe that if it is too good to be true, then it probably is. Here’s the exception: Reverse Mortgages, also known as Home Equity Conversion Mortgages (HECMs), are federally insured loans that can benefit the senior that has earned equity. It’s money that you have already earned and it did not grow on a tree.