Reverse Mortgages

Many retirees and seniors explore the option of a reverse mortgage as a way to tap into their home equity to get money. With a reverse mortgage, you generally don't have to pay back the loan until you die, move, or sell the home. But before you sign up for a reverse mortgage, make sure you understand the pros and cons, including the tax implications and the potential pitfalls. And, after learning about all the downsides you still decide to get one, beware of the many scams targeting folks seeking these kinds of mortgages.  

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