The POWER of HECM62; 10 steps on how it works; This is the winner’s circle

The power of 62 is an age, like 21, or 65; For the HECM, it means you are “of age” — eligible.

Mark it on the calendar. Make a star for 60, because that means you are only 2 years away from launching a HECM use of home equity to survive retirement in one piece. It means you might qualify for a big bonus. You can get a HECM, and there are bunches of benefits on this webpage about HECMs. Walk through these expected steps to be familiar.

If you are already 62, have at least 50% home equity, it’s time to get a move on. You have the makin’s of a winner. Use what you have to move up now. Loser’s quit. They get discouraged. They don’t think positive anymore. But that role doesn’t fit you, does it?

Think how much more money you’ll have if you don’t pay all that interest on your mortgage — get rid of the mortgage. Take that money you saved and do something you’ve been wanting to do for a long time. That’s what winners do, they plot with their opportunities and win because there’s still room in the winner’s circle. Now, they are thinking ahead — and they are alive with new ideas — and they won’t be planning to live in the rest home. They’ll still be looking ahead. That’s what life is, but unfortunately, a lot of us are lazy and depressed without much hope for the future. We say “no” because we don’t have courage to say “yes” when we want to or have the power to believe in our dreams.

  1. Buy a house, make payments, watch equity grow.
  2. Plan retirement utilizing (about 50%-100%) home equity and other sources you have created.
  3. When you are 62, pay off your forward mortgage with a HECM, establish your HECM line of credit (You won’t need a HELOC which requires payments).
  4. Determine how much of your HECM will come as a lump sum. Use the lump sum to pay off as many bills as you can to eliminate debt and increase cashflow.
  5. Cashflow increases as payments are phased out.
  6. Use your line of credit to cover emergencies, long term care, watch it grow without payments.
  7. Thru appreciation, your home value will continue to grow over time.
  8. Line of credit will grow — like the real growth savings account you never had and without payments so long as taxes and homeowner’s are paid current.
  9. Laugh your way to the bank, pass “go” and collect combined wealth.
  10. Plan your legacy with an inheritance for your family. It could exceed all your imagination.

Talk to your loan officer about the POWER of HECM — see “information” ( in navigation bar, ask questions, get government mandated counseling, get the wheels turning.

Think win win.