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Apr 24, 2024 · A reverse mortgage is a loan that allows homeowners who are 62 or older to borrow against a portion of the equity in their home. A reverse mortgage works differently than a traditional mortgage loan, though. Instead of making payments to your lender, your lender will make a payment to you.
Jul 24, 2020 · Proprietary reverse mortgages are private loans that aren’t backed by a government agency. Lenders set their own eligibility requirements, rates, fees, terms and underwriting process.
Oct 17, 2023 · There are three major types of reverse mortgage loans: home equity conversion mortgage, proprietary reverse mortgage and single-purpose reverse mortgage. Home equity conversion...
Latest Articles. Reverse mortgage: What it is and how it works. These home equity loans can be a source of cash for seniors, albeit a costly one. 10 min read Apr 09, 2024. Types of mortgage...
