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Access the equity in your home without selling it - A reverse mortgage allows you to borrow against the equity in your home without having to sell it. This means you can access cash without having to move or give up ownership of your home.
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No monthly mortgage payments - With a reverse mortgage, you are not required to make monthly mortgage payments. Instead, the loan is paid back when you move out of the home or pass away, and the home is sold.
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Flexibility in how funds are used - Reverse mortgage proceeds can be used for any purpose, such as paying off debt, covering medical expenses, or funding home improvements.
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Stay in your home - A reverse mortgage allows you to stay in your home while accessing the equity in the property. This can be especially important for seniors who want to age in place.
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Non-recourse loan - A reverse mortgage is a non-recourse loan, which means that the borrower or their estate is not responsible for paying back more than the value of the home at the time of repayment.
03 - 13 - 2023
