What Exactly is a Reverse Mortgage?

Simply put, a reverse mortgage is a loan. This loan allows a lender to convert home equity into cash, hence the name Home Equity Conversion Mortgage, or HECM.
Put in place in 1989, the HECM loan has since helped more than one million older homeowners achieve a more comfortable retirement, and in many cases, has been the reason borrowers have been able to continue living their lives in the home. Every homeowner’s situation and goals for retirement are unique and require an experienced reverse mortgage specialist to customize your options to choose from.
Contact Brad for your one-on-one consultation to explore your options ranging from the FHA insured HECM reverse mortgage loan, or AAG’s Advantage Jumbo Reverse Mortgage for high valued homes.