Some Unexpected (and Surprisingly Beneficial) Uses for HECM Reverse Mortgages:

Among the many beneficial uses of HUD’s recently revamped reverse mortgage program, the FHA’s Home Equity Conversion Mortgage (HECM), there is a set of these uses that fit into the category called “HECM for Purchase,” and sometimes abbreviated as “H4P.” The two uses of the H4P and one of the HECM are discussed and illustrated in this talk and include divorce, replacing a conventional mortgage and downsizing.