As some may know, a reverse mortgage is only set up for property owners of retirement age. Also, it lets them borrow money, much like a home loan. At the same time, they have no loan payments. Plus, the loan pays off any existing, traditional mortgage. Although, interest and other fees do accrue. In fact, these accrue over the life of the loan. And, it’s not until a ‘trigger event’ that they become due. What is a trigger event? One… Read more
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