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What are the main advantages of a reverse mortgage?

April 26, 2017advantages main reverse mortgage

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What are the main advantages of a reverse mortgage?

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• Homeowners can pull needed cash from the equity of the home, without incurring monthly expenses. • Lenders cannot force homeowners to sell the property to pay back the loan. • Reverse mortgages guarantee that the homeowner can stay on the property for as long as he or she lives, even if the outstanding loan and interest grow to exceed the value property’s value.