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The Top 15 FAQ on Reverse Mortgages

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1. What exactly is a reverse mortgage? A reverse mortgage is a loan from the government that allows you to convert a portion of the equity you’ve built up in your home to cash. Read our Plain English Version Here. 2. Will the bank own my home? No, you will still be the sole owner of your home. The bank...
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2017 Reverse Mortgage Interest Rates On The Rise!

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What Rising Interest Rates in 2017 Mean for Reverse Mortgage Borrowers Interest rate increases impact reverse mortgage borrowers differently from how they impact forward mortgage borrowers. While gains in short-term rates have a minimal effect on the amount of loan proceeds reverse mortgage borrowers may be eligible to receive, hikes in longer-term rates can significantly reduce their borrowing power over...
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Higher Reverse Mortgage Lending Limits Coming in 2017

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Higher Reverse Mortgage Limits Coming in 2017 Starting in 2017, lending limits for government-backed reverse mortgages will increase, allowing borrowers the opportunity to access more of their home equity than ever before. The vast majority of reverse mortgages are federally-insured Home Equity Conversion Mortgages (HECMs) that are backed by the Federal Housing Administration. These loans allow homeowners age...
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