The only reverse mortgage insured by the U.S. Federal Government is called a home equity conversion mortgage (hecm), and is only available through an FHA-approved lender. Get directions, reviews and information for Reverse Mortgages of Texas in Houston, TX. Reverse Mortgages of Texas Houston TX 77057. Reviews (713) 303-8314.
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Home Equity Conversion Mortgage Vs Reverse Mortgage What Is A Hecm In the world of mortgages, one term is a must-remember for senior homeowners: home equity Conversion Mortgage, also known as a HECM, or "heck-um." A breakdown of HECM loans and how they work reveals just how helpful they can be for qualified senior homeowners who are 62 years of age or older.
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My 73 yr old mother fell for Reverse Mortgage Solutions INC. (RMS) In Texas outrageous interest and fees. Each mth 993.00 is added to her balance then the next mth it’s more. It compounds monthly. They were so helpful and kind before she closed the reverse mortgage loan. She hasn’t heard a word from them since.
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Back to www.houstontx.gov. A reverse mortgage is a special type of home loan that lets a homeowner convert a portion of the equity in his or her home into.
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