HECM (pronounced Heck-um)
HECM stands for Home Equity Conversion Mortgage, popularly known as a reverse mortgage. There mortgages are guaranteed by the Federal Housing Administration and supported by Fannie Mae (the Federal National Mortgage Association).
For local help on HECM go to the HUD WebPages at http://www.hud.gov/offices/hsg/sfh/hcc/hcc_home.cfm
Source:
Arizona Daily Star, October 27, 1991. Money Section. Page 4.
Arizona Daily Star, October 27, 1991. Money Section. Page 4.