Home equity conversion mortgage (HECM) in Retirement
Didier Malagies • June 25, 2024
Payoff a Mortgage
Eliminatinga mortgage in retirement increases cashflow
Stand-by credit line
A retirement strategy where the homeowner uses the credit line as a bucket to draw from during bear markets.
Long term care protection
Set up credit line and let it grow untouched, to use only if needed
Emergency back-up
Set up a credit line to use only as needed
Tenure payments
Tax-free lifetime income stream, thereby reducing the need to make withdrawals from tax portfolios
Hecm for Purchase
Use the Hecm to purchase a new home and invest the difference for retirement
Divorce settlement
Use the Hecm to buy out a spouse's portion of the home without selling or withdrawing funds from portfolio
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Here are the anticipated conforming loan limits for Fannie Mae / Freddie Mac for 2026 (pending official announcement by the Federal Housing Finance Agency): 819,000 is the new loan amount, so you can buy a home for $862,105 and only put 5% down to keep in conforming Interesting how prices of homes have come down, and the loan amounts have increased, so it's another way of not having to go to Jumbo financing. Didier Malagies nmls212566 DDA Mortgage nmls324329
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