Finance
The Home Equity Conversion Mortgage (HECM) is a government-backed reverse mortgage insured by:
AFannie Mae
BFHA✓ Correct
CVA
DUSDA
Explanation
The HECM (Home Equity Conversion Mortgage) is the most common reverse mortgage product. It is insured by the FHA and allows homeowners 62 or older to convert home equity to cash while remaining in their home.
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