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Posts Tagged 'what is a reverse mortgage'

What is a Reverse Mortgage? Explained in Simple Terms!

What is a Reverse Mortgage? A reverse mortgage is a loan for homeowners age 62 and older that requires no monthly mortgage payments. The loan is repaid when the borrower passes away, leaves the home permanently or sells. Available funds are distributed as a lump sum, line of credit or structured monthly payments. What it is  A loan against...
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Reverse Mortgages Explained: What It Is & How it Works.

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What is a Reverse Mortgage & How Does It Work? Over the past several years there have been a number of television commercials with spokesmen pitching reverse mortgages. However, it is still not a term that is very well understood by most people for a very good reason. Mortgages come from lenders and are what people use to purchase homes,...
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