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• A special type of mortgage-developed and insured by the Federal Housing Administration (FHA) that enables older home owners to convert the equity they have in their homes into cash, using a variety of payment options to address their specific financial needs. Sometimes called a reverse mortgage.

  Federal Trade Commission - Cite This Source - This Definition
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  Cite Definition for Home Equity Conversion Mortgage (HECM)

  American Psychological Association (APA)

  Home Equity Conversion Mortgage (HECM). (n.d.). Real Estate Marketplace Glossary. Retrieved March 21, 2023, from website: http://www.expertglossary.com/definition/home-equity-conversion-mortgage-hecm.

  Chicago Manual of Style (CMS)

  Home Equity Conversion Mortgage (HECM). www.ftc.gov. Real Estate Marketplace Glossary. Federal Trade Commission. http://www.expertglossary.com/definition/home-equity-conversion-mortgage-hecm (accessed: March 21, 2023).

  Modern Language Association (MLA)

  "Home Equity Conversion Mortgage (HECM)." Real Estate Marketplace Glossary. Federal Trade Commission. 21 March. 2023 http://www.expertglossary.com/definition/home-equity-conversion-mortgage-hecm.

• Browse Related Terms: 203(k), EEM, FHA mortgage loan, Home Equity Conversion Mortgage (HECM), Purchase Money Mortgage, Rehabilitation Mortgage