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How does a Reverse Mortgage get paid back?

April 26, 2017paid reverse mortgage

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How does a Reverse Mortgage get paid back?

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You or your estate will pay the money back plus interest when you permanently move out of your home. If you sell your home during your lifetime you’ll be paying back your Reverse Mortgage at the sale. If you live there until you pass away, that’s when it needs to be paid back.