10 min read
HECM vs. Proprietary Reverse Mortgage: A guide for Better choice
Retirement can bring a mix of excitement and uncertainty, especially when it comes to finances. If you’re looking to...
When it comes to managing finances in retirement, homeowners often seek solutions that allow them to leverage their most significant asset: their home. One such solution is a reverse mortgage, a type of loan that enables older homeowners to convert part of their home's equity into cash. Among the various types of reverse mortgages, the proprietary reverse mortgage stands out, and Equity Access Group has emerged as a leader in this field. This blog explores the concept of proprietary reverse mortgages and why Equity Access Group is at the forefront of this market.
A proprietary reverse mortgage is a private loan backed by the lending company and not insured by the federal government, unlike Home Equity Conversion Mortgages (HECMs). These are tailored for homeowners with higher-value homes, allowing them to access a larger amount of their home equity compared to HECMs.
Equity Access Group has carved a niche in the proprietary reverse mortgage market for several reasons:
Proprietary reverse mortgages represent a vital financial tool for many homeowners, particularly those with higher-value properties. Equity Access Group's leadership in this sector is a testament to their commitment to providing tailored, transparent, and trustworthy services. As the market evolves, their role in helping retirees secure their financial future remains crucial.
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