With nearly 20% of people age 65 and older facing Medicaid cuts, limited access to long-term care coverage and predictions of a major market correction, this population needs help not from the government or their advisers, but from their largest financial asset — their home.
For the past year, I’ve been investigating home equity conversion mortgages (HECMs), because a HECM offers elements that can help retirees stay in their homes and generate income for modest budgeted amounts.
In addition, the federal government provides insurance protection for HECMs so that heirs will not owe money after the original owner’s passing.


