A Home Equity Conversion Mortgage (HECM) is a special type of mortgage that enables older home owners to convert the equity they've built in their homes into liquid cash.  With a HECM you'll get greater financial security to supplement social security and other retirement funds to use for unexpected  situations, medical expenses, home improvements, and more.

Unlike with a traditional home equity loan, a borrower must qualify based upon their income, with a home equity conversion mortgage the borrower is qualified based upon the value their home and does not have to repay the borrower no longer occupies the property.