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Tag Archives: Reverse Mortgage

Estate Planning Law: Reverse Mortgages

A reverse mortgage or Home Equity Conversion Mortgage (HECM) is not new, but it is something that you may have heard much more about recently.  It is a mechanism that enables senior homeowners to convert a portion of the equity that they have in their home without having to sell or give up title or, most importantly, assume a new monthly mortgage payment.  They have been around for a long time but due to recent statutory changes have become less onerous and, when combined with current interest rates, more beneficial than in prior years.