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Reverse Mortgages
As a Senior Homeowner, you may find the extra money obtainable with a Reverse Mortgage to be of great benefit to your wants and needs. Here you will learn what a Reverse Mortgage is, how a Reverse Mortgage works, and where a Reverse Mortgage may be obtained.
You qualify for a Reverse Mortgage if you are at least age 62 (the youngest homeowner must be at least age 62) and own your home. With a Reverse Mortgage, you retain full ownership and control of your home.
With a Reverse Mortgage you may continue to receive income, and defer repayment, for as long as you live at home - no matter how long that may be.
All Reverse Mortgages are non-recourse loans which means there is no personal liability to you or your Heirs - no matter what. Reverse Mortgage lenders can only look to your home's value for repayment (both Homeowner and Lender are insured against loss).
With a Reverse Mortgage, you can never ever be forced from your home (you own it); the Reverse Mortgage does not have to be repaid until after you permanently vacate your home.
Please use this 'Reverse Mortgage Home Page' as a Table of Contents to get where you want to go. Then, if you feel this may be something worth looking into, please contact us for more specific information - and directions to where you may receive local Government-approved Counseling.
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