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What is a Reverse Mortgage Loan?

what is a reverse mortgage loan? A reverse mortgage is a special type of loan available only to older homeowners with full or nearly full equity in their homes. With these loans, owners can borrow against the equity they have built up, and they are not required to pay back the loan until they sell the home or move. If the borrower dies before the property is sold, the estate repays the loan and any interest that has accrued.

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