Also known as a reverse annuity mortgage. Form of mortgage in which the lender makes periodic payments to the borrower using the borrower's equity in the home as Satisfaction of Mortgage: The document issued by the mortgagee when the mortgage loan is paid in full. Also called a "release of mortgage."

Turning home equity into cash without having to leave your home or make regular loan payments. HECM is insured by FHA.

A special type of mortgage-developed and insured by the Federal Housing Administration (FHA) that enables older home owners to convert the equity they have in their homes into cash, using a variety of payment options to address their specific financial needs. Sometimes called a reverse mortgage.

A reverse or reverse annuity mortgage in which HUD through FHA guarantees that the borrower will receive monthly payments from the insurer (FHA) in the event the lender is unable to make payments to the borrower.

Also known as a reverse annuity mortgage. It allows home owners (usually older) to convert equity in the home into cash. Normally paid by the lender in monthly payments. HECM's typically don't have to be repaid until the borrower is no longer occupying the home.

Federally insured reverse mortgage option.

Usually called 'Reverse Annuity Mortgage,' wherein the lender makes payments to the purchaser, not vice versa. This allows older home owners to convert their home equity into cash. This contrasts with traditional home equity loans, where a borrower must qualify on the basis of income; instead, one qualifies on the basis of the value of his or her home. The loan need not be repaid until the property is sold.

A special type of mortgage, sometimes called a reverse mortgage, that enables older homeowners to convert the equity in their homes into cash, using a variety of payment options to address their specific financial needs. Unlike traditional home equity loans or mortgages, a borrower does not qualify on the basis of income but on the value of the home. In addition, the loan does not have to be repaid until the borrower no longer occupies the property.

Also known as a "reverse mortgage", a loan designed specifically for people without income but with a great deal of equity in their home (i.e. retired people). The loan may require periodic payments or may simply accumulate interest on the original principal until the property is sold (by the borrower or after the death of the borrower).

the only reverse mortgage program insured by the Federal Housing Administration, a federal government agency. The amount of money you get from a HECM depends on several factors, including: your age, appraised home value, and current interest rates.

Reverse mortgage guaranteed by the federal government and insured by the Federal Housing Administration (FHA).

A type of FHA-insured reverse mortgage.

Loans made to older owners who want to convert equity into money. Because borrowers are qualified on the basis of the value of their home, e, the loan is not the same as a home equity loan. Also known as reverse mortgages.

Also known as the reverse annuity mortgage. This mortgage provides that instead of making payments to a lender, the lender makes payments to the individual. Older homeowners are able to convert home equity into cash this way, in the form of monthly payments. Borrowers don't qualify on the basis of income, but on the value of his or her home. Such a loan does not have to be repaid until the borrower no longer occupies the property.

A special type of mortgage that enables seniors to convert the equity in their homes into cash, using a variety of payment programs that address their specific financial circumstances. The borrower does not qualify on the basis of income but on the value of the subject property. In addition, the loan does not have to be repaid until the borrower no longer occupies the property. Also called a reverse mortgage.

Usually referred to as a reverse annuity mortgage, what makes this type of mortgage unique is that instead of making payments to a lender, the lender makes payments to you. It enables older home owners to convert the equity they have in their homes into cash, usually in the form of monthly payments. Unlike traditional home equity loans, a borrower does not qualify on the basis of income but on the value of his or her home. In addition, the loan does not have to be repaid until the borrower no longer occupies the property.

A special type of mortgage that enables older home owners to convert the equity they have in their homes into cash, using a variety of payment options to address their specific financial needs. Unlike traditional home equity loans, a borrower does not qualify on the basis of income but on the value of his or her home. In addition, the loan does not have to be repaid until the borrower no longer occupies the property. Sometimes called a reverse mortgage.

Also known as reverse mortgage, this loan is made to older owners to convert their equity into money. Borrowers are qualified on the basis of the value of their homes. This is not the same as a home equity loan.

Home Equity Conversion Mortgage (HECM) - Also referred to as a "reverse mortgage", a Home Equity Conversion Mortgage is a special type of home loan that allows homeowners to convert the equity in their homes into cash that is paid to them in a lump sum or in a stream of payments. With this type of mortgage repayment not required until the borrower no longer uses the home as a principal residence.