| Guarantee of the Reverse Mortgage  If a homeowner wants to stay where they are, safe and secure in their own home, there isn't a safer program available today. The FHA Home Equity Conversion Mortgage is a program that guarantees the homeowner is the one who retains title to their property, and, if the homeowner should be in the program when they pass - the home will transfer to the heirs, church or charity, just as with a conventional mortgage. Eliminating Mortgage Payments With the FHA HECM senior homeowners are allowed safe access to some, not all, of the equity they have in, what for many has turned out to be one of their largest, if not their only, investment - the very homes they live in. The HECM mortgage does not eliminate a mortgage, it simply defers the time that the loan is paid back to the point in time when the homeowner no longer lives in the home, eliminating any mortgage payments and giving those who qualify access to tax free income in the form of a lump sum, monthly payments for life in the home or a growing credit line. The Protection of the Federal Houseing Administration To take advantage of the FHA senior loan, the homeowner must first take advantage of a HUD required counseling from a HUD approved counselor. This independent third party review gives homeowners the opportunity to "fact check" the information that they have received and compare alternatives. In addition, the FHA sets lending limits on lending amount and certain fees and costs as well as interest rates, etc.... And all FHA HECM loans are "non recourse" and come with a special FHA Insurance that guarantees that IF the homes value should ever be lower than the amount owed at end of loan, the FHA will pay the shortfall... that's right, even if homevalues should plumit the homeowner and their heirs, and the bank, are protected! | | 
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