If something is better, less expensive and safer, that signals nothing short of a transformation of that something, does it not? Well that is just what has happened in the case of the HECM (Home Equity Conversion Mortgage) from HUD. The transformation affects not only the terms and rules for the program but also the attitudes of financial planners and other professionals as they consider this important piece of the puzzle for the quality of life in retirement for their clients. Real estate financing has definitely been transformed.
Article after article and newscast after newscast are applauding the transformation. Read more about it in a CNBC piece here.