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Differences between a HECM and Proprietary Reverse Mortgages Posted By : allreverse

Posted by admin on Monday, December 31st 2007   

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31
Dec


Youve made the decision to get a reverse mortgage and now you talk to a bank or mortgage broker and the representative is telling you that you have a choice of the Government Home Equity Conversion Mortgage (HECM or Heck-um) or a Jumbo or Proprietary Program. Is one better than the other? Is one more expensive? Is one more risky? Lets see if we cant cut through some of the fat and get to the meat of the issues.

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