fromSlate Magazine
6 days agoMy Parents Are in Big Financial Trouble. There's One Potentially Risky Way to Get Them Out of It.
A Home Equity Conversion Mortgage (HECM) is the most popular form of a reverse mortgage. Insured by the Federal Housing Administration (FHA), it allows cash-strapped seniors over the age of 62 to convert a portion of their home equity into cash, equal payments stretched out over a period of years, or a home equity line of credit, to use when the need arises.
Real estate