Reverse Mortgages: Get the Facts Before Cashing in on Your Home’s Equity

A reverse mortgage (with the exception of the owners for an adequate insurance or risk HUD … and with most reverse mortgages, you have at least three ….

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  • In a reverse mortgage, you receive money from the lender, and generally don’t have to pay it back for as long as you live in your home HECM loans are widely available, have no income or medical requirements, and can be used for any purpose.
  • Reverse mortgage loan advances are not taxable, and generally don’t affect your Social Security or Medicare benefits
  • You don’t have to buy any products or services to get a reverse mortgage
  • If there is pressure or urgency to complete the deal, walk away and take your business elsewhere
Download Reverse Mortgages: Get the Facts Before Cashing in on Your Home's Equity pdf from www.ftc.gov, 6 pages, 166.49KB.
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