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Reverse Mortgage Blog

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A HECM has 3 gears

December 11, 2020

Do you really know what will happen to home prices in the post Covid era?

 -OR-

I often remind people that you can always make payments on a reverse mortgage.  As my old buddy Martin Andelman once said:  “You can put the loan in forward and make any payment you want” (and at any time, I may add). You can put it in neutral and make interest only payments that keep your loan balance from moving and a lesser payment than you probably have, or you can put it in reverse and make no payment at all.”

And as another friend says, the owner of very successful reverse mortgage company says, Omar; the HECM is just an ordinary loan that you are already familiar with, except it has a reverse option to it.       

Jay Kaplan profile picture
Jay Kaplan
This is the place to share. Share news, updates and opinions. The reverse is the most misunderstood item in the lending and financial home ownership arena; we need more exchange of ideas. This area is for questions and, I hope; answers. Please keep the dialogue going in the name of education, and that goes both ways. Please see that I have added two categories from The Educated Retirement show for Nostalgia and Wisdom
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This is the place to share. Share news, updates and opinions. The reverse is the most misunderstood item in the lending and financial home ownership arena; we need more exchange of ideas. This area ...
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