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Unformatted text preview: not necessary until after the owners are no longer living in the home. FHA's HECM also presents these repayments. Pros and Cons of a Reverse Mortgage A reverse mortgage gives a senior citizen who owns their own home the benefit of staying in their home while collecting payments in exchange for the equity in the home. However, with a reverse mortgage you give up the option of selling your home. Is a Reverse Mortgage Your Best Option? The benefits of a reverse mortgage are the consistent monthly payments as you pull money out of your home. In addition, the best part is that you will be able to continue living in your home. However, the cons include the confusing fees that are charged by reverse mortgage providers. META Description: A reverse mortgage is an excellent way to pull money out of your home without having to obtain a home loan....
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This note was uploaded on 03/06/2010 for the course ECON fin121 taught by Professor Peck during the Fall '10 term at Academy of Design Tampa.
- Fall '10