Leveraging Home Equity in Retirement: The Advantage of HECMs Over HELOCs
For seniors aged 62 and over, managing cash flow in retirement can be challenging. While Home Equity Lines of Credit (HELOCs) are a well-known method for leveraging home equity, they may not be the best choice for older homeowners due to their variable payment schedules and potential for payment spikes. Instead, reverse mortgages, especially the Home Equity Conversion Mortgage (HECM), offer a more suitable alternative.
Leveraging Home Equity in Retirement: The Advantage of HECMs Over HELOCs Read More »