HECM mortgage loans are specifically designed to help seniors, age 62 and older, tap home equity to help cover their retirement needs. You can use the proceeds from your HECM mortgage loan to pay for medical care or other bills, to protect your investment portfolio during market downturns or even to delay Social Security and increase your monthly benefits later in life. 

Using a reverse mortgage is no longer just for the cash poor and house rich,” said Jamie Hopkins, an associate professor of taxation at The American College in Bryn Mawr, Pa. “Instead, reverse mortgages can be used strategically as one part of a retirement income plan designed to build a buffer against sequence of returns risk early in retirement, help defer Social Security benefits or reduce cash outflow from traditional mortgage payments.”

To find out more about how a HECM mortgage can change your life, we encourage you to browse our informative website and call a HECM mortgage specialist to find out if this flexible financial tool is right for you.