The Senior Lending Network (perhaps best known for having Robert Wagner as their spokesperson), has recently launched one of the most innovative reverse mortgage programs in the industry. The new reverse mortgage, known as the "HECM for Home Purchase" program, allows seniors to enter into a seamless transaction that uses the proceeds from a reverse mortgage on an existing home to purchase a new home.

The HECM for Home Purchase program may be ideal for seniors who wish to downsize their current home or make a long distance move, utilizing the stored equity in their home to fund the new transaction. Naturally, with the Senior Lending Network being the only organization to offer such a program, seniors should be sure to compare this program with other options such as selling their home outright or renting out their property and using the proceeds to pay for their new living situation.

For more information on reverse mortgages, check out the following articles:

• Reverse Mortgage Basics
• Disadvantages of a Reverse Mortgage
• Using a Reverse Mortgage Calculator