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What is a reverse mortgage?

Saturday, December 04, 2010 Reverse mortgages are special types of home loans that allow homeowners age 62 and older to convert a portion or all of the equity they have in their homes into cash, to be used for any purpose they choose. Unlike a traditional home equity loan or second mortgage, where monthly payments have to be made, a reverse mortgage does not have to be repaid until the borrowers no longer use the home as their principal residence.
Posted by Thomas Puchten at 22:09:49

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