Reverse Mortgage Facts

A reverse mortgage is a type of loan available to people who own their homes without a traditional mortgage. Reverse mortgages allow you to tap into the accrued equity in your home, taking a loan against the value of your home. Unlike a traditional mortgage, you still own your home.

Since this is a federal program, many lending institutions and even the government itself, have websites and representatives who can tell you more about a reverse mortgage for your property. These are mortgages that give you the money you’ve built up in your house. Looking into them is like giving you the money that you’ve earned rather than a loan. More info: reverse mortgage Utah

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