Margert Community Corporation

Neighborhood Preservation Services and Energy Affordability


Margert is a HUD-approved housing counseling agency that provides assistance to persons who want to rent, buy or already own a home, and who seek to be responsible renters, buyers and owners.

Home Equity Conversion Mortgage (HECM)

Reverse Mortgages are becoming popular in America. The U.S. Department of Housing and Urban Development (HUD) created one of the first. HUD's Reverse Mortgage is a federally-insured private loan, and it's a safe plan that can give older Americans greater financial security.

The HECM FHA insured reverse mortgage can be used by senior homeowners age 62 and older to convert the equity in their home into monthly streams of income and/or a line of credit to be repaid when they no longer occupy the home. The loan, commonly known as HECM, is funded by a lending institution such as a mortgage lender, bank, credit union or savings and loan association.

Frequently Asked Questions about HUD's Reverse Mortgages

To assist the homeowner in making an informed decision of whether this program meets their needs, they are required to receive consumer education and counseling by a HUD-approved HECM counselor.

HECM counselors will discuss program eligibility requirements, financial implications and alternatives to obtaining a HECM and provisions for the mortgage becoming due and payable. Upon the completion of HECM counseling, the homeowner should be able to make an independent, informed decision of whether this product will meet their needs.

Are you a senior homeowner who wants to remain in your home, but are concerned that you do not have adequate income to maintain your independence? If so, please follow the link below for important information concerning reverse equity mortgages.

Home Equity Conversion Mortgages for Seniors

Explore your options to tap your home equity with National Council on Aging’s free guide. Use Your Home to Stay at Home© is the official federally approved consumer booklet for older homeowners considering tapping their home equity using a reverse mortgage. The guide also provides information on other housing and home equity options available to older adults looking to remain in their homes as they age.

Use Your Home to Stay at Home

Use su casa para quedarse en su hogar