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HECM

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Depressed Housing Market Could Spur HECM for Purchase 

Sep 16, 2011By

The instability in the housing market has been a point of frustration for the reverse mortgage industry, but there could be a silver lining that could spur the HECM for purchase product that has failed to gain much traction.   CNN Money reported on a trend of baby boomers taking advantage of the current housing market to purchase dream retirement homes that they could previously afford.  The article relates the story of seven different couples and how they were able to acquire their ideal retirement home for about half of the price they had originally expected in the places

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