If you google “HECM” or “reverse mortgage” you will see ad after ad after ad, often disguised as educational material. That’s the way marketing works of course. As a HECM professional, I often go to the HUD Guidelines and Mortgagee Letters to clarify a point or to understand a new twist to the program. Straight to the horse’s mouth. The HUD site is a great place for consumers to get a basic education about the HECM program. While it is vital to speak with a professional about the nuances of the program and the best application of the best version, HUD has a Top Ten Questions page that is pretty darn good. My only complaint with it is that while describing a Line of Credit it fails mention the most remarkable feature…..the growth of that line. It is extraordinary to say the least. I can’t believe they still let us do this! Ask me to show you an amortization schedule illustrating that growth. The guaranteed, growing line of credit has become the darling of many planners who “get it”! I can fill in any blanks from the HUD list. Please take a look here.