In 2009, as part of HERA, (Housing Economic Recovery Act), an entirely new reverse mortgage was created specifically to assist potential homebuyers, 62 years of age and above, the HECM for Purchase. The reverse mortgage has become a topic on the minds of millions of seniors and their trusted advisors. Unlike the reverse mortgage of years gone by, today’s reverse mortgage has evolved into a true retirement planning tool that should be considered as a viable option in an overall and more comprehensive retirement plan.
