HECM Line of Credit: What it is and How it Works – HECM Line of Credit (LOC), Credit Line. A HECM line of credit (LOC) is one of the most ideal options for receiving proceeds from a HECM reverse mortgage. Many wealthy seniors take advantage of this option because it can essentially turn a large portion of your home’s equity into a tax-free retirement account that will grow larger over time.
HUD FHA Reverse Mortgage for Seniors (HECM) | HUD.gov / U.S. – Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage insured by the U.S. Federal Government is called a Home Equity Conversion Mortgage (HECM), and is only available through an FHA-approved lender.