Over the many years that I have been helping seniors with retirement funding, a majority of them have asked this question. Misinformation and myths about how the HECM program works still has lots of people thinking that “the bank” owns your house and keeps the proceeds of its sale after they are gone. They are certain that “my kids will get nothing”. Ridiculous! This week’s edition accurately refutes that idea, showing four different examples of home equity utilization and how they affect the legacy that homeowners leave. The figures used in these examples are even better today for heirs. Costs are less and rates are less, leaving substantially more value to heirs! Don’t accept rumor and myths. Get the facts.