Mortgage Myths
Debunking Reverse Mortgage Myths
Getting a home equity conversion mortgage (HECM) doesn’t have to be complicated. Steve Scheiern offers personalized guidance and trusted service to walk you through the process. He also wants to clear up common misconceptions about the program so you have all the facts.
Myth #1: When you get a HECM reverse mortgage, you give up the title on your home.
Fact: You retain title, ownership, and appreciation of your home — not the lender.
Fact: You retain title, ownership, and appreciation of your home — not the lender.
Myth #2: You could be forced to move or sell your home.
Fact: As long as you comply with HECM loan terms, you do not have to move or sell your home.
Fact: As long as you comply with HECM loan terms, you do not have to move or sell your home.
Myth #3: To qualify for a HECM, you must be debt-free.
Fact: You do not have to own your home free and clear to qualify for a HECM.
Fact: You do not have to own your home free and clear to qualify for a HECM.
Contact Steve today to see if a reverse mortgage is right for you.
