Home Equity Conversion Mortgage (HECM)

Home Equity Conversion Mortgage (HECM),

How To Define Home Equity Conversion Mortgage (HECM)?

  1. Equity conversion mortgage (HECM) is a type of insurance mortgage administered by the Federal Housing Administration (FHA). Home equity conversion mortgages allow seniors to convert their home equity into cash.

    • An equity conversion mortgage (HECM) is a type of insurance mortgage administered by the Federal Housing Administration (FHA).
    • HECM makes up the bulk of the reverse margin market.
    • HECM requirements are generally better than private reverse mortgages, but require a fixed loan amount and a mortgage insurance premium.

Literal Meanings of Home Equity Conversion Mortgage (HECM)

Home:

Meanings of Home:
  1. A place where you live permanently, especially as a family or household member.

  2. Facilities for people who need professional care or supervision.

  3. A goal or end point (in sports).

  4. Regarding where we live.

  5. (Sports) A game played on a field or team field.

  6. Name of the organization's administrative center.

  7. Where we live

  8. (The beast) easily returns after leaving its territory.

  9. Move or aim (target) with great accuracy.

Sentences of Home
  1. I was 19 when I left home to go to college.

  2. Rest house

  3. It is four doors from your house

  4. I don't have your personal address

  5. This is your first home game of the season

  6. The company changed its headquarters

  7. When did you come home last night

  8. A dozen gasses on their way to their summer nesting sites

  9. More than 100 missiles were fired, urging radar removal

Synonyms of Home

rest home, institution, place of residence, aim at, property, nursing home, fix on, zero in on, spotlight, retirement home, concentrate on, focus on, convalescent home, old people's home, highlight, underline, accommodation, centre on, pinpoint, residential home, children's home, a roof over one's head, focus attention on

Equity:

Meanings of Equity:
  1. The standard of fairness and impartiality.

  2. Value of shares issued by a company.

  3. After a reduction in prices, the value of the mortgaged property.

  4. (US, UK and some other countries) A ​​union consisting mostly of professional actors.

Sentences of Equity
  1. Fair treatment

  2. People who have accumulated large amounts of equity in their homes

Synonyms of Equity

equitableness, justice, valuation, value, justness, worth, fair-mindedness, fairness, fair play

Conversion:

Meanings of Conversion:
  1. The process of changing or transforming something from one form to another.

  2. Change your religion or beliefs, or persuade someone to change their religion.

  3. Earn one or more extra points after scoring.

  4. Action to win down first.

  5. The percentage of people (in online marketing) who see the ad and buy the product, click on the link, etc.

  6. Improper treatment of property that violates the rights of the owner.

  7. Expression of mental disorders such as physical disorders or diseases.

  8. Changes in the numerical value of a quantity due to the use of different units of measurement

Sentences of Conversion
  1. Converting food into body tissues

  2. My Catholic faith changes the magnet

  3. If this monotonous mess doesn't go away after two extra hours, teams will be forced to find two points on the touchdown conversion.

  4. He also took the fifth position to allow the minimum number of conversions on the third attempt and the second position to allow the minimum number of exchanges on the first attempt.

  5. If you add your physical address to your website, you'll see better conversion rates for your local ads.

  6. Found guilty of fraudulent exchange of customer funds

  7. Conversion error

  8. This margin can hardly be attributed to errors in converting units of measure.

Synonyms of Conversion

change, metamorphosis, spiritual rebirth, translation, transformation, turning, altering, regeneration, sea change, transfiguration, changing, transmutation, reformation

Mortgage:

Meanings of Mortgage:
  1. Transfer (assets) to creditors as collateral.

  2. A legal arrangement under which a bank or other lender lends at interest for the ownership of the lender's assets, provided the transfer of ownership is not effective at the time the loan is repaid.

Sentences of Mortgage
  1. The farm is in mortgage

  2. I deposited one lakh in cash and mortgaged the rest

Synonyms of Mortgage

advance, put up as collateral, pawn, guarantee, credit, mortgage