How does a reverse mortgage work? - California - Corona ID1511412

Offering about 5 months ago - Other Services - Corona

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Homeowners aged 62 and older can explore the benefits of the Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, a unique financial product. An FHA reverse mortgage allows the conversion of home equity into income or a line of credit. Eligible borrowers with accumulated home equity can borrow funds against their property's value, unlocking additional income during retirement. Remarkably, a reverse mortgage doesn't impose the obligation of regular loan payments on the debtor.

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