HECM for Refinance Columbia is an FHA-insured program that has been introduced for the welfare of people aged 62 and above. This write up will provide you more information about the same.
Since the fall of 2008, property prices slashed to a great extent. Houses that once were valued at $2,00,000 were then for around $1,40,000 in the USA. This was a matter of great stress, especially for the elders who lost their sources for regular income or cash flow. Considering this, the FHA-insured program, HECM for Refinance in Columbia, was introduced for people above the age of 62. This program allows you to move into a new home and that too without depleting all your life savings. This way, you can save thousands of dollars which otherwise would have lost in the process. Another best thing about this program is that you don't have to sell your home either.
However, this FHA-insured mortgage program, also known as the HECM for Purchase Program is offered by a few banks only. To get the best possible benefit from it, it is advisable to know more about it in advance. For this, you can consult some professional companies existing to your help. HECMSouthEast.com is one of them. They aim in providing the best of helping hand to the senior people and thus are ideal for getting all the necessary information about this program.
When social security is one of the three legs of retirement, it is not at all feasible to waste it in your early retirement period. To prevent you from Deferring your Social Security in Myrtle Beach and other neighboring areas, this program was developed by the FHA. By purchasing the HECM for Purchase Program, you can easily buy a home directly using a deviation of a conventional reverse mortgage plan. You need to pay a closing cost only once and you are never even forced to sell your existing home.
So, consult a professional counselor today and plan a safe and secure retirement for you and your spouse.
To know more please log on to http://www.hecmsoutheast.com