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What You Should Know About Home Equity Conversion Mortgages (HECMs)
10:30AM - 12:30PM
A home equity conversion mortgage (HECM) is a type of reverse mortgage that is insured by the Federal Housing Administration (FHA). Home equity conversion mortgages allow seniors to convert the equity in their home to cash. These reverse mortgages are increasing in popularity with senior homeowners who want to supplement their income. Join Housing Action Illinois and Diversified Resource Network to learn more about: *Basic eligibility requirements *Loan calculations *HECM default *Housing counseling requirements
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