Home Equity Conversion Mortgages ( Reverse Mortgages) for Seniors

Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to remain in their homes or supplement their income. The only reverse mortgage insured by the U.S. Federal Government is called a Home Equity Conversion Mortgage (HECM), and is only available through a Federal Housing Administration (FHA)-approved lender. This is information from the U.S. Department of Housing and Urban Development on HECM, FHA's reverse mortgage program that enables you to withdraw a portion of your home's equity.