Reverse purchase financing: The financing option no one is talking about
Housing Wire
JANUARY 17, 2024
They own the home with their name on the title, as with any mortgage, traditional or reverse. The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ). Recently, Interested Party Contributions (or seller concessions) have been allowed with HECM for Purchase loans.
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