Financial Flexibility Services

You continue to own your home as long as you live in it! 

      The accrued HECM loan balance becomes due if you pass away; sell your house; no longer live there as your primary residence, or fail to meet your responsibilities to maintain the property, purchase homeowners insurance, and pay your property taxes. Whereas a HECM is an advanced loan from the equity in your home, the good news is that it does not have to be repaid until being deducted from the selling price of your home at the time you no longer claim your home as your permanent residence.