It’s been all over the news and featured in the most highly respected publications. Housing wealth is now a major player in retirement strategies. And why not? Study after study shows that Americans are woefully underfunded for retirement. In fact it is by all measures a crisis facing at least two generations! Yet tens of millions of seniors suffer the results of cash and income shortages while sitting on/in what for most is their biggest asset… home equity. Traditional equity instruments mean another payment and qualifying is often too tough for them, especially from an income point of view. The American College of Financial Services recently created one of the best summaries I have ever seen about how a HECM (Home Equity Conversion Mortgage) works and how it can fundamentally change the retirement experience. Thankfully, the highly inaccurate picture of the program has given way to acceptance and objectivity. This is good stuff! Please see it here.