www.orchestrate.com/blog/questions-need-ask-opting-reverse-mortgage/
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Yes, but a few conditions apply.
Repay by selling the property or getit refinanced.
Would the estate remain underthe ownership of the applicant
Reverse Mortgage acts inversely to the contemporary mortgage loan, as the borrowers aren’t required to make payments for the money they have borrowed. Instead, borrowers can pay back by accessing the equity built in their home, while also using it as the collateral.
Yes, but it depends on the agreement between the lender and the borrower(s).
Can the co-owner continue to stay at home while the borrower moves out
What can the heirs of theborrower do with the ReverseMortgaged property
Borrowers are free to use the proceeds as they wish.
How can the borrower collect the proceeds of the Reverse Mortgage
Borrowers aged 62 & above, and who own a home.
Who are eligible for Reverse Mortgage
Facts onREVERSE MORTGAGE
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