InvestorWords.com

Home Equity Conversion Mortgage


Definition
HECM. An arrangement in which a homeowner borrows against the equity in his/her home and receives regular monthly tax-free payments from the lender. also called reverse-annuity mortgage or reverse mortgage.


Related Videos




Search for another term


Related Terms

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z