HELOC vs. reverse mortgage: What seniors should consider now Eligible senior homeowners who are considering borrowing against their home's values can look into a home equity line of credit or a ...

A reverse mortgage, also known as a home equity conversion mortgage HECM), is a home loan designed for homeowners aged 62 and older who want to take advantage of the equity they’ve accumulated ...

No payments are required on the reverse mortgage until you move out of or sell the home. If you pass away, your heirs can sell the home and use the proceeds to repay the reverse mortgage.

Home equity is a valuable financial resource. By definition, it’s the difference between your home’s value and how much you owe on your mortgage. For example, if your home is worth $500,000 ...