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.
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.