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What is a Reverse Mortgage?

If you’re an older homeowner (62 or older), a reverse mortgage allows you to convert part of the equity in your home into tax-free income without having to sell it, give up title to it, or take on a new monthly mortgage payment. Unlike in a traditional home equity loan or second mortgage, you won’t have to repay it until you’re no longer using the home as a primary residence.
Now that you know more about reverse mortgages, get your Credit Report and Score.
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