Do I repay a HECM?

Yes! The HECM must be repaid. Borrowers generally repay a HECM when they or their heirs sell the home. Regular monthly or periodic payments are not required on a HECM, but they can be made at the borrower’s option. A HECM can be paid off at any time, without penalty and can be refinanced with another reverse mortgage or traditional forward mortgage.

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