Hecum - line of credit for your retirement (Reverse Mortgage)

tune in and learn more at https://www.ddamortgage.com/blogSo, the bottom line is that the line of credit reverse mortgage shares some of the features of the HELOC. It is a line of credit that borrowers can use to borrow against the equity in their home and they only accrue interest on the funds they borrow.Unlike a HELOC, there are no payments due, the loan can never be closed by the lender because they made the arbitrary decision to stop making a line of credit loans (borrowers do have to occupy the home, pay taxes and insurance on time and maintain the house in a reasonable manner) and the amount available to borrowers grows over time based on a growth rate of the unused portion of the line.Didier Malagies nmls#212566DDA Mortgage nmls#324329#mortgage#reversemortgage Support the show