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What is a Reverse Mortgage – A reverse mortgage is a loan available to homeowners, 62 years or older, that allows them to convert part of the equity in their homes into cash. The product was conceived as a means to help retirees with limited income use the accumulated wealth in their homes to cover basic monthly living expenses and pay for health care.
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What Is a Reverse Mortgage and What Does It Mean to Me. – A reverse mortgage is an increasingly attractive proposition for older Americans who may be low on cash, need to supplement retirement income, and want to use their home equity to remain in the.
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WHAT IS A – Reverse Mortgage Funding LLC (RMF) – National. – A reverse mortgage is a home-secured loan that can turn part of the equity you’ve built up in your house into funds you can use today, or a line of credit that will be there when you need it.
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