FHA Reverse Mortgage (HECM)
GPTKB entity
Properties (50)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:Insurance_Company
|
| https://www.w3.org/2000/01/rdf-schema#label |
FHA Reverse Mortgage (HECM)
|
| gptkbp:isAccessibleBy |
Traditional mortgage
Home equity loan Line of credit |
| gptkbp:isAttendedBy |
HUD
|
| gptkbp:isAvailableIn |
All 50 states
Homeowners aged 62 or older Approved lenders |
| gptkbp:isBasedOn |
Age of the youngest borrower
Current interest rates Home value |
| gptkbp:isConsidered |
A last resort option
A financial tool A non-recourse loan A traditional loan Income for tax purposes |
| gptkbp:isCounteredBy |
Eligibility for government assistance programs
|
| gptkbp:isCriticizedFor |
High fees
Complex terms Potential for foreclosure |
| gptkbp:isGovernedBy |
Federal regulations
|
| gptkbp:isImportantFor |
Borrower dies
Borrower moves out Borrower_sells_the_home |
| gptkbp:isNotableFor |
Short-term financial needs
Borrowers who plan to move soon Borrowers who want to leave an inheritance |
| gptkbp:isPartOf |
Retirement planning
|
| gptkbp:isPromotedBy |
Financial advisors
A way to access home equity |
| gptkbp:isRegulatedBy |
Borrower moves out of the home
Borrower passes away Home is sold Monthly mortgage payments |
| gptkbp:isSubjectTo |
Annual reviews
Regulatory changes Closing costs Mortgage insurance premium |
| gptkbp:isUsedFor |
Home improvements
Living expenses Paying off existing mortgage Healthcare_costs |
| gptkbp:isVisitedBy |
gptkb:Federal_Housing_Administration
|
| gptkbp:provides |
Tax-free income
|
| gptkbp:requires |
Paying property taxes
Equity in the home Homeowners insurance Counseling session Maintaining the home |