HECM REVERSE MORTGAGE · 11 STATES
A HECM can turn part of your home equity into cash flow while you stay in your home. Duane explains how it works so you can decide with confidence, in the 11 states where I am licensed.
Licensed in 11 states
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No-pressure advice
WHAT IT IS
A HECM is an FHA-insured reverse mortgage for homeowners 62 and older. Instead of making monthly mortgage payments, you receive funds from your equity, and the loan is repaid when you sell, move out permanently or pass away.
You keep the title and remain responsible for property taxes, insurance and upkeep. A HUD-approved counseling session is required before you apply. A reverse mortgage is not right for everyone, so we go through the trade-offs together.
You still pay property taxes and insurance, and you maintain the home.
Options may include a lump sum, monthly payments or a line of credit, depending on the program.
You or your heirs generally never owe more than the home's value when it is sold, subject to program rules.
A HUD-approved counselor reviews the loan with you before you apply.
HOW IT WORKS
01
Share your goals, your home value and any current mortgage.
02
A HUD-approved counselor walks through the loan and your alternatives.
03
We gather documents, order the appraisal and review the numbers together.
04
After closing and the required waiting period, you receive funds in the way you chose.
LOCAL KNOW-HOW
Availability can vary by lender and property. I confirm what is offered through my lender network.
Virginia
Property taxes and insurance costs vary by locality. I help you estimate them as part of the plan.
Tennessee
Taxes and insurance differ across Tennessee. We plan for them so the loan stays in good standing.
Georgia
From metro Atlanta to the coast, costs vary. We build realistic numbers for your home.
FAQ
Yes. Title stays with you, and you remain responsible for taxes, insurance and upkeep.
Protections can apply to eligible non-borrowing spouses, depending on loan terms. We review your situation.
HECMs are non-recourse. Heirs can generally keep the home by repaying the lesser of the balance or the appraised value, or they can sell it. Rules apply.
EXPLORE MORE
NEXT STEP
Ask me anything. I will go through the benefits and the trade-offs with you. No pressure.
Duane Buziak, NMLS #1110647, Coast2Coast Mortgage, LLC, NMLS #376205. Licensed in VA, FL, TN, GA, NC, SC, MD, DC, WV, TX and KY. Equal Housing Lender. This information is educational and is not an indication of loan qualification, approval or a commitment to lend. Rates, programs and guidelines change and are subject to credit approval.
