PTF Financial
Mortgage Company in Everett, WA
The H. E. C. M. Home Equity Conversion Mortgage) is the ONLY Reverse Mortgage Insured by the Federal Government. HECM Reverse Mortgages are Insured by the FHA (Federal Housing Administration) which is part of the U. S. HUD (Department of Housing and Urban Development) The FHA tells H. E. C. M. Reverse Mortgage Lenders how much money they can lend you, based on your age and home value. The HECM program limits your loan costs, and the FHA Guarantees that HECM Reverse Mortgage Lenders will meet their obligations.
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PTF Financial
read moreA reverse mortgage, or Home Equity Conversion Mortgage (HECM), is a type of mortgage that allows you convert the equity in your home into tax-free cash as a lump sum, line of credit, tenure/term payment, or a combination without the obligation of having a monthly mortgage payment. This means instead of making a monthly mortgage payment, the interest is deferred to be repaid at a later date, such as when the last borrower passes away or you decide to sell the home. You would still be required to continue paying the property tax, homeowners insurance, and other property charges.
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read moreNot only what they are, but you're curious about all the things you've already heard about them. The fact that those questions seem so hard to find answers to is exactly why I LOVE the job I do every day. I've been in this business since the year 2000, and I've met THOUSANDS of individuals just like you who wanted to improve their lives. Because each and every day I'm able to help real people make real, meaningful changes in their lives.
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