More than 78,000 reverse mortgages were insured last year by the U.S.
Department of Housing and Urban Development (HUD). These federally
insured loans, also called Home Equity Conversion Mortgages (HECMs), have
become more popular as older Americans are looking to tap the equity in their
homes so they can age in peace. Each day over 10,000 Baby-boomer reach
the qualifying age (62) for reverse Mortgages.
Don Worthington with Primary Residential Mortgage is here to tell us more
about What Reverse mortgages are and how they work.
For More Information:
Primary Residential Mortgage, Inc.
4750 West Wiley Post Way, Suite 200
Salt Lake City| Utah | 84116
Toll Free 1.800.255.2792| Fax 1.801.533.3034