Financial Freedom enhances reverse mortgage programMortgagePress.comReverse mortgages
Financial Freedom has launched HECM Advantage, the first in a
suite of new reverse mortgage products based on the federally
insured Home Equity Conversion Mortgage (HECM).
Compared to the original HECM monthly adjustable product with a
margin of 1.5 percent, HECM Advantage offers a lower interest rate
and access to more home equity that can be converted to cash at a
lower overall cost over the life of the loan.
Irvine, Calif.-based Financial Freedom is a subsidiary of
Pasadena, Calif.-based savings and loan IndyMac Bank FSB. For more
information, call (888) 738-3773 or visit www.financialfreedom.com.