Home Equity Conversion Mortgage

HECM. An arrangement in which a homeowner borrows against the equity in his/her home and receives regular monthly tax-free payments from the Lender. also called reverse-annuity Mortgage or Reverse mortgage.

Related Terms: 12 Annuity, Borrow, Call, Lend, Lender, Mortgage, Own, Range, Reverse-annuity mortgage, Reverse mortgage, Tax, UIT

Other Related Pages: Category: Real_Estate Starting With: H

Additional Related Terms: 10-Q, Annuity unit, Asset/equity ratio, After-tax basis, All or any part, At call, Average equity, Accumulated earnings tax, All-risks coverage, Annuity