An HECM reverse mortgage is a type of reverse mortgage that is insured by the Federal Housing Administration (FHA) and available to homeowners who are 62 or older. HECM stands for Home Equity Conversion Mortgage, which is a loan that allows homeowners to convert a portion of the equity in their home into cash. This is the most common type of reverse mortgage and, importantly, backed by the US government. HECM reverse mortgages can be a valuable financial tool for homeowners who need to access the equity in their home to supplement their retirement income or cover unexpected expenses. However, it’s important to carefully consider the costs and implications of the loan before deciding to proceed.