Buy a new home with no mortgage payment for life

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Alexia: Tim, you are serious, with a HECM Loan, I can increase my cash flow , and I don’t have to have a mortgage payment?

Tim: HECM, Home Equity Conversion Mortgage , is the safest type of reverse mortgage. It’s FHA’s version of the reverse mortgage.

Alexia: Ok, so , but like my house can be taken away.

Tim: Oh, no. Absolutely not, you get to hold the deed. This is just a mortgage, like any other mortgage. FHA just gives you the option of not making a mortgage payment.

Alexia:  Are you sure?

Tim: Yeah..You still own the house.

Alexia: Well, thats a win- win. I

Tim: It’s a WIn- Win- Win.

Alexia: WE should tell people.

Tim: We should.