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A reverse mortgage is a type of loan that allows homeowners ages 62 and older to borrow against their home equity, using their home as collateral. ... your home's appraised value, current interest ...
Proprietary reverse mortgage – This is a loan offered by a private reverse mortgage lender and not insured by the government. Some proprietary reverse mortgage options allow you to take out a ...
A reverse mortgage is a mortgage loan, usually secured by a residential property, that enables the borrower to access the unencumbered value of the property. The loans are typically promoted to older homeowners and typically do not require monthly mortgage payments.
For many retirees, their largest asset is their home -- but they might not be ready to sell to cash in on their equity. That's where a reverse mortgage can come into play. A reverse mortgage allows...
The loan amount available through a reverse mortgage depends on the age of the borrower (or the age of the youngest spouse when there’s a couple), as well as the home’s appraised value ...
Loan-to-value ratio below 85%. ... With a reverse mortgage, you take out a loan against your home — with closing costs and interest rates — only instead of making payments to a bank or lender ...
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