{"id":7195,"date":"2024-10-12T14:56:16","date_gmt":"2024-10-12T18:56:16","guid":{"rendered":"https:\/\/mortgageequitypartners.com\/your-hometown-team\/?page_id=7195"},"modified":"2026-06-09T07:35:36","modified_gmt":"2026-06-09T11:35:36","slug":"reverse-mortgages","status":"publish","type":"page","link":"https:\/\/mortgageequitypartners.com\/your-hometown-team\/mortgage-products\/reverse-mortgages\/","title":{"rendered":"Reverse Mortgages"},"content":{"rendered":"<div class=\"gca-column one-half first\"><h2>Reverse Mortgages<\/h2>\n<p>A Home Equity Conversion Mortgage (<a href=\"https:\/\/www.hud.gov\/program_offices\/housing\/sfh\/hecm\/hecmhome\" target=\"_blank\" rel=\"noopener\">HECM<\/a>), more commonly known as a reverse mortgage, enables homeowners age 62 or older to access a portion of their home&#8217;s equity without making monthly mortgage payments. Eligible homeowners can receive funds from their equity while continuing to live in their home.<\/p>\n<p>A HECM\/reverse mortgage can be an effective retirement planning tool for homeowners looking to supplement income, improve cash flow, or access equity they&#8217;ve built over the years.<\/p>\n<p>For many homeowners who are approaching retirement or have already retired, A HECM\/reverse mortgage is a great way to achieve their ideal retirement lifestyle. Even with careful planning, saving, and investing, many people do not have enough funds to live comfortably.<\/p>\n<p><strong>HECM options we offer:<\/strong><\/div><div class=\"gca-column one-half\"><script>\nvar gform;gform||(document.addEventListener(\"gform_main_scripts_loaded\",function(){gform.scriptsLoaded=!0}),document.addEventListener(\"gform\/theme\/scripts_loaded\",function(){gform.themeScriptsLoaded=!0}),window.addEventListener(\"DOMContentLoaded\",function(){gform.domLoaded=!0}),gform={domLoaded:!1,scriptsLoaded:!1,themeScriptsLoaded:!1,isFormEditor:()=>\"function\"==typeof InitializeEditor,callIfLoaded:function(o){return!(!gform.domLoaded||!gform.scriptsLoaded||!gform.themeScriptsLoaded&&!gform.isFormEditor()||(gform.isFormEditor()&&console.warn(\"The use of gform.initializeOnLoaded() is deprecated in the form editor context and will be removed in Gravity Forms 3.1.\"),o(),0))},initializeOnLoaded:function(o){gform.callIfLoaded(o)||(document.addEventListener(\"gform_main_scripts_loaded\",()=>{gform.scriptsLoaded=!0,gform.callIfLoaded(o)}),document.addEventListener(\"gform\/theme\/scripts_loaded\",()=>{gform.themeScriptsLoaded=!0,gform.callIfLoaded(o)}),window.addEventListener(\"DOMContentLoaded\",()=>{gform.domLoaded=!0,gform.callIfLoaded(o)}))},hooks:{action:{},filter:{}},addAction:function(o,r,e,t){gform.addHook(\"action\",o,r,e,t)},addFilter:function(o,r,e,t){gform.addHook(\"filter\",o,r,e,t)},doAction:function(o){gform.doHook(\"action\",o,arguments)},applyFilters:function(o){return gform.doHook(\"filter\",o,arguments)},removeAction:function(o,r){gform.removeHook(\"action\",o,r)},removeFilter:function(o,r,e){gform.removeHook(\"filter\",o,r,e)},addHook:function(o,r,e,t,n){null==gform.hooks[o][r]&&(gform.hooks[o][r]=[]);var 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is_redirect && ! is_confirmation;var mt = parseInt(jQuery('html').css('margin-top'), 10) + parseInt(jQuery('body').css('margin-top'), 10) + 100;if(is_form){form_content.find('form').css('opacity', 0);jQuery('#gform_wrapper_1').html(form_content.html());if(form_content.hasClass('gform_validation_error')){jQuery('#gform_wrapper_1').addClass('gform_validation_error');} else {jQuery('#gform_wrapper_1').removeClass('gform_validation_error');}setTimeout( function() { \/* delay the scroll by 50 milliseconds to fix a bug in chrome *\/  }, 50 );if(window['gformInitDatepicker']) {gformInitDatepicker();}if(window['gformInitPriceFields']) {gformInitPriceFields();}var current_page = jQuery('#gform_source_page_number_1').val();gformInitSpinner( 1, 'https:\/\/mortgageequitypartners.com\/your-hometown-team\/wp-content\/plugins\/gravityforms\/images\/spinner.svg', true );jQuery(document).trigger('gform_page_loaded', [1, current_page]);window['gf_submitting_1'] = false;}else if(!is_redirect){var confirmation_content = jQuery(this).contents().find('.GF_AJAX_POSTBACK').html();if(!confirmation_content){confirmation_content = contents;}jQuery('#gform_wrapper_1').replaceWith(confirmation_content);jQuery(document).trigger('gform_confirmation_loaded', [1]);window['gf_submitting_1'] = false;wp.a11y.speak(jQuery('#gform_confirmation_message_1').text());}else{jQuery('#gform_1').append(contents);if(window['gformRedirect']) {gformRedirect();}}jQuery(document).trigger(\"gform_pre_post_render\", [{ formId: \"1\", currentPage: \"current_page\", abort: function() { this.preventDefault(); } }]);        if (event && event.defaultPrevented) {                return;        }        const gformWrapperDiv = document.getElementById( \"gform_wrapper_1\" );        if ( gformWrapperDiv ) {            const visibilitySpan = document.createElement( \"span\" );            visibilitySpan.id = \"gform_visibility_test_1\";            gformWrapperDiv.insertAdjacentElement( \"afterend\", visibilitySpan );        }        const visibilityTestDiv = document.getElementById( \"gform_visibility_test_1\" );        let postRenderFired = false;        function triggerPostRender() {            if ( postRenderFired ) {                return;            }            postRenderFired = true;            gform.core.triggerPostRenderEvents( 1, current_page );            if ( visibilityTestDiv ) {                visibilityTestDiv.parentNode.removeChild( visibilityTestDiv );            }        }        function debounce( func, wait, immediate ) {            var timeout;            return function() {                var context = this, args = arguments;                var later = function() {                    timeout = null;                    if ( !immediate ) func.apply( context, args );                };                var callNow = immediate && !timeout;                clearTimeout( timeout );                timeout = setTimeout( later, wait );                if ( callNow ) func.apply( context, args );            };        }        const debouncedTriggerPostRender = debounce( function() {            triggerPostRender();        }, 200 );        if ( visibilityTestDiv && visibilityTestDiv.offsetParent === null ) {            const observer = new MutationObserver( ( mutations ) => {                mutations.forEach( ( mutation ) => {                    if ( mutation.type === 'attributes' && visibilityTestDiv.offsetParent !== null ) {                        debouncedTriggerPostRender();                        observer.disconnect();                    }                });            });            observer.observe( document.body, {                attributes: true,                childList: false,                subtree: true,                attributeFilter: [ 'style', 'class' ],            });        } else {            triggerPostRender();        }    } );} );\n<\/script>\n<\/div><div class=\"gca-utility clearfix\"><\/div>\n<ul>\n<li>HECM Lump Sum \u2013 Receive a one-time cash payout at closing.<\/li>\n<li>HECM Monthly Payments \u2013 Receive scheduled monthly payments, either for a set period of time or for as long as you remain in the home.<\/li>\n<li>HECM Line of Credit \u2013 Access available funds as needed, with the flexibility to draw only what you need when you need it.<\/li>\n<li>Reverse Second Mortgage \u2013 For homeowners who wish to keep their existing low-rate first mortgage in place, a reverse second mortgage may provide access to home equity through a second lien position. (Availability and program guidelines apply.)<\/li>\n<\/ul>\n<p><strong>Here are some benefits of a HECM\/reverse mortgage:<\/strong><\/p>\n<ul>\n<li>Eliminates monthly mortgage payments, and repayment is deferred until you leave the house.<\/li>\n<li>Allows you to remain in your home as you age.<\/li>\n<li>Loan proceeds are tax-free and can be used as you wish.*<\/li>\n<li>Any remaining equity can be passed down to your heirs after paying off the HECM loan.<\/li>\n<li>Funds can be used to pay medical bills, other loans, and unsecured debt.<\/li>\n<li>Improve our monthly cash flow.<\/li>\n<li>Build a safety net.<\/li>\n<li>Pay for improvement of renovations.<\/li>\n<\/ul>\n<p><strong>Eligibility Requirements:<\/strong><\/p>\n<ul>\n<li>Borrowers must meet the age requirement of 62 years.<\/li>\n<li>Borrowers must live in the home as their primary residence and have sufficient equity.<\/li>\n<li>Borrowers must be able to pay off their existing mortgage using the HECM loan proceeds.<\/li>\n<li>Borrowers must be financially able to pay their property taxes and homeowners insurance.<\/li>\n<li>Borrowers must have enough income to keep up the general maintenance of the property.<\/li>\n<li>Borrowers must meet financial eligibility criteria as established by HUD and meet with a reverse mortgage counselor.<\/li>\n<\/ul>\n<p>HECM\/reverse mortgages have evolved and are now considered a safe, secure method of using home equity as a financial tool for retirement. Contact our\u00a0<a href=\"https:\/\/mortgageequitypartners.com\/your-hometown-team\/our-team\/\">HECM\/reverse mortgage specialists<\/a>\u00a0for a consultation today.<\/p>\n<p><em>*For tax advice, please contact a tax professional.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>HECM Lump Sum \u2013 Receive a one-time cash payout at closing. HECM Monthly Payments \u2013 Receive scheduled monthly payments, either for a set period of time or for as long as you remain in the home. HECM Line of Credit \u2013 Access available funds as needed, with the flexibility to draw only what you need [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"parent":4882,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"profile","_genesis_custom_post_class":"","_genesis_layout":"full-width-content","footnotes":""},"class_list":["post-7195","page","type-page","status-publish","entry"],"_links":{"self":[{"href":"https:\/\/mortgageequitypartners.com\/your-hometown-team\/wp-json\/wp\/v2\/pages\/7195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mortgageequitypartners.com\/your-hometown-team\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/mortgageequitypartners.com\/your-hometown-team\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/mortgageequitypartners.com\/your-hometown-team\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mortgageequitypartners.com\/your-hometown-team\/wp-json\/wp\/v2\/comments?post=7195"}],"version-history":[{"count":1,"href":"https:\/\/mortgageequitypartners.com\/your-hometown-team\/wp-json\/wp\/v2\/pages\/7195\/revisions"}],"predecessor-version":[{"id":7917,"href":"https:\/\/mortgageequitypartners.com\/your-hometown-team\/wp-json\/wp\/v2\/pages\/7195\/revisions\/7917"}],"up":[{"embeddable":true,"href":"https:\/\/mortgageequitypartners.com\/your-hometown-team\/wp-json\/wp\/v2\/pages\/4882"}],"wp:attachment":[{"href":"https:\/\/mortgageequitypartners.com\/your-hometown-team\/wp-json\/wp\/v2\/media?parent=7195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}