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Calculate Reverse Mortgage

Cathy Said:

what is reverse mortgage, how is it calculated?

We Answered:

A Reverse Mortgage is a way for homeowners over the age of 62, to use the equity they have built up in their homes without having to make a payment for as long as they live in the home.

The calculation is based on the age of the youngest borrower, the current interest rate (1.5 plus the US 10 year t-bill), lending limits in your area, home value, and how much is owed on the home - any leins, mortgages, seconds etc.

There is a link to a reverse mortgage calculator on

www.reversemortgagefinance.com

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