Silverdale WA Real Estate •• Bremerton WA Real Estate •• Poulsbo WA Real Estate •• Port Orchard WA Real Estate

Glossary of Real Estate Terms
A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z  
Real Estate Term: Home Equity Conversion Mortgage (HECM)

Definition:

A special type of mortgage developed and insured by the Federal Housing Administration (FHA) that enables older home owners to convert the equity they have in their homes into cash, using a variety of payment options to address their specific financial needs. Sometimes called a reverse mortgage.