What is Reverse Mortgage Explained

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REVERSE MORTGAGE

• A reverse mortgage loan is a unique credit option.

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Introduction to reverse mortgage

• In a reverse mortgage, the lender uses the equity
  of your home as security to provide you with a
  tax-free loan. As it is used by older homeowners
  to receive income from the equity in their home
  to be repaid when they no longer occupy the home.
  

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Reverse mortgage benefits is that it ensures
financial well-being in old age and provides
monetary independence to senior citizens. It does
not create immediate financial liability on the
borrower as he/she does not need to repay the
loan amount in EMIs.
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With reverse mortgage you can finance your
Debt consolidation
Living expenses
Home improvements
Helping children with college
Buying another home that might better meet your
needs as you age
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