REVERSE MORTGAGE VS. HOME EQUITY LOAN
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REVERSE MORTGAGE VS. HOME EQUITY LOAN
What is the difference between a Reverse mortgage and a bank home equity loan.
Paul Jamison- Posts : 21
Join date : 2008-01-28
Reverse Mortgage VS Home Equity Loans
A Reverse Mortgage is the opposite of a traditional mortgage. With a traditional mortgage or home equity loan, you borrow a large amount of money and make monthly payments. You must also have a sufficient debt to income ratio to qualify and make monthly mortgage payments.
A Reverse Mortgage pays you, and is available regardless of your current income or debt to income ratio. With a Reverse Mortgage you receive either regular monthly payments,
a lump-sum, or “on-demand” through a line of credit. Re payment is only required at the end
of the loan, typically, when you no longer occupy the home as your principal residence.
Reverse Mortgage Man
(866) 800-0280
www.moneywise123.com
A Reverse Mortgage pays you, and is available regardless of your current income or debt to income ratio. With a Reverse Mortgage you receive either regular monthly payments,
a lump-sum, or “on-demand” through a line of credit. Re payment is only required at the end
of the loan, typically, when you no longer occupy the home as your principal residence.
Reverse Mortgage Man
(866) 800-0280
www.moneywise123.com
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» WHAT IS A REVERSE MORTGAGE
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