Home Equity Line Of Credit

Reverse Mortgage (HECM)

Reverse Mortgage (HECM)

A Reverse Mortgage, also known as a Home Equity Conversion Mortgage (HECM), is a financial arrangement designed for homeowners who are 62 years of age or older. It allows them to convert a portion of their home equity into funds without the need to sell their home or make monthly mortgage payments. Instead of making payments to the lender, the lender makes payments to the homeowner, effectively reversing the traditional mortgage payment structure.


This option can provide seniors with a way to supplement their retirement income, cover medical expenses, or simply improve their quality of life during their golden years. The loan is repaid when the homeowner moves out of the home, sells it, or passes away. At that point, the loan balance is typically settled by the sale of the property.


It's important to note that while a Reverse Mortgage can offer financial flexibility, it also comes with considerations and potential implications for heirs and the future sale of the home. Consulting with financial advisors and experts in this field, like those at Ferrari Lending, can help homeowners make informed decisions about whether a Reverse Mortgage is the right choice for their individual circumstances.

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I represent clients who authorize me to do so. I do not work for or represent the interest of any mortgage lender or other duly authorized entity to whom I may submit a mortgage application on behalf of a Client. My services are provided in a Mortgage Broker capacity and I am not authorized to approve or deny a mortgage loan request. NMLS 1691763 / NMLS 1322774

FERRARI LENDING NMLS1691763 ALEXANDRE FERRARI NMLS1322774 **Disclaimer:** I act as a representative for clients who provide their authorization. I do not represent the interests of any mortgage lenders or other entities to which I may submit mortgage applications on behalf of my clients. My services are rendered solely in the capacity of a Mortgage Broker, and I am not authorized to approve or deny mortgage loan requests.