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A reverse mortgage is a home loan that allows seniors, 62 and older, to access the equity in the home and turn it into cash! With the cost of living rising at an alarming rate, seniors on fixed income can greatly benefit from these government backed loans. If you were to think of this loan in a traditional sense, it is simply a home equity loan with no monthly payment! The monthly payment is deferred until you sell the property, or in the event of your death, your estate would settle the loan. Please contact us for additional information. |