Seniors, and our friends,
a favorite saying of mine, and something I like to think about occasionally is;
you don't know what you don't know
so, what do you know about a HECM Equity Line?
a little? not much? nothing at all?
here's some basics, which I feel are important.
the equity line is guaranteed and cannot be closed at the lenders whim. even if the balance of your mortgage exceeds the value of your home, if there are available funds they can be used.
the equity line grows, that's right grows on an annual basis, currently about 5%
there are NO PAYMENTS!
the funds are available at your descretion, to be used for any reason.
i could go on, and on, and on about how this can help you...and i will
at another time.