Do you own a house, have more than 62 years old and need some money? We have the perfect solution for your problem.
A reverse mortgage, like a standard mortgage, allows homeowners to borrow money while securing the loan with their home as collateral. Unlike with a standard mortgage, borrowers do not make monthly mortgage payments with a reverse mortgage loan. Each month, interest and fees are added to the loan total, causing the sum to rise, and when they no longer live in the house, the loan is repaid.
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