Reverse mortgage is a loan for senior people over 62 and it works for those who needs money and don't want to pay monthly debts. It's equity of home value to cash with no monthly mortgage but you still need to pay taxes, insurance and maintain bills. The reverse mortgage is insured buy Federal Housing Administration ( FHA ).
The amount that you can lend is determined by the age of borrower . Find more info from link below:
Reverse Mortgage
Reviewed by ArRahbari
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Reviewed by ArRahbari
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