what are good alternatives to an hecm 
there are several good alternatives to an hecm depending on your situation if you can qualify for a single purpose reverse mortgage through a local nonprofit those are usually much cheaper if you can downsize your home you may not need the extra income from a hecm and will then be able to pass on your home to your heirs or leave it to the charity of your choice when you pass the bottom linea home equity conversion mortgage hecm is the most common type of reverse mortgage it allows older borrowers to tap the equity in their homes without having to pay it back until they pass or move if borrowers don t need to borrow above the hud limits for a proprietary reverse mortgage and they don t qualify for a single purpose reverse mortgage through a local nonprofit or government entity then the hecm is their most logical choice 