The HECM Program in a Snapshot
The first Home Equity Conversion Mortgage (HECM) loan was originated in 1989. As of early 2017, more than 1 million borrowers had taken advantage of the program, which enables participants to extract home equity while aging in place. The aging of the U.S. population and strong preference to age in p...
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| Veröffentlicht in: | Cityscape (Washington, D.C.) D.C.), 2017-01, Vol.19 (1), p.119-126 |
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| creator | Carter, George R. Miller, Joshua J. |
| description | The first Home Equity Conversion Mortgage (HECM) loan was originated in 1989. As of early 2017, more than 1 million borrowers had taken advantage of the program, which enables participants to extract home equity while aging in place. The aging of the U.S. population and strong preference to age in place suggest potential for growth of the HECM program in the coming years. Any growth must be managed and strong consumer protections enforced, however, to ensure the viability of the HECM program. The purpose of this article is, first, to describe the reverse mortgage market using survey and administrative data and, second, to discuss the HECM program in light of certain demographic, economic, and housing market trends. |
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| identifier | ISSN: 1936-007X |
| ispartof | Cityscape (Washington, D.C.), 2017-01, Vol.19 (1), p.119-126 |
| issn | 1936-007X 1939-1935 |
| language | eng |
| recordid | cdi_proquest_journals_1915837812 |
| source | JSTOR Archive Collection A-Z Listing; EZB-FREE-00999 freely available EZB journals |
| subjects | Age Aging in place Baby boomers Equity Homeowners Households Housing Loan workouts Loans Market penetration Market potential Older people Preferences Reverse mortgages Symposium: Home Equity Conversion Mortgages Trends |
| title | The HECM Program in a Snapshot |
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