The home is offered as collateral and unlike regular mortgages, reverse mortgages don't require up front fees or ... (ABC 15 Phoenix)
Story date: 2008-04-22 09:57:36
Added on: 2008-04-22 22:33:22
The oldest baby boomers turn 62 this year, making them eligible for a reverse mortgage. What is it? Basically, it allows homeowners to tap into their equity, without having to pay it back until their home is sold or they die.
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