WITH THE IMPLEMENTATION OF FINANCIAL ASSESSment
and draw limitations, the most likely borrowers
against their home equity have changed. If the old industry
mantra was simply eliminate your forward mortgage
payments, the new mantra is a more complex look at
fi nancial planning. How do you best utilize a HECM in
conjunction with other savings tools? And what can you
use it for?
These statements open a whole bunch of new dialogue with those thinking about a HECM now. It is no longer billed as the loan of last resort, though it may well be the last loan you’ll need in retirement.
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It will answer a lot of your questions upfront.