If you’re over 62 and you own a home with or without an existing mortgage? Be ready to help your children. Layoffs, furloughs, expenses…it’s coming. Draining your investments to get the cash they need is impractical. Qualified funds are not tax free if you withdraw the money. Opening a bank HELOC compels you to mandatory payments followed by a 20 yr amortization of the remnant balance.

The best solution? Using the FHA HECM HELOC can save your financial structures and allow you the ability to strengthen yourselves, AND your children. Your debt-to-income ratio falls dramatically, and that can help you borrow money for other reasons. That’s right! NO payments are required. And, if you want? You can always Refi this program later without risk of prepayment penalties.

In the meanwhile? You can effectively help your family through an extremely difficult time, and your 3rd bedroom is still your TV room.