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What are the other differences between a Reverse Mortgage and a Home Equity Loan?

April 26, 2017differences home equity loan reverse mortgage

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What are the other differences between a Reverse Mortgage and a Home Equity Loan?

1 Answer

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10 Posted

First, home equity loans are based on income and credit scores. Second, home equity loans require monthly payments back to the bank. Neither of these requirements are associated with the reverse mortgage.