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Is a reverse mortgage or HELOC better for seniors

Is a reverse mortgage or HELOC better for seniors? Experts weigh in The choice between a reverse mortgage or HELOC can be a tough one for seniors.Though easing inflation and the Federal Reserve’s recent rate cut should help to ease the pressure on many Americans, some are still struggling financially. That might mean turning to credit cards to make ends meet or, […]

**The owner(s) retain title to the property that is the subject of the reverse mortgage until the person sells or transfers the property and is therefore responsible for paying property taxes, insurance, maintenance and related taxes. Failing to pay these amounts or failure to maintain the condition of your property may cause the reverse mortgage to become due immediately. A reverse mortgage is a complex loan secured by your home. Whether such mortgage makes sense for you depends on your financial situation and needs. For these reasons, you are required to consult with a qualified independent housing counselor and include family members and other trusted advisers before making this decision. This information is not from HUD or FHA and was not approved by HUD or any government agency.

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Is a reverse mortgage or HELOC better for seniors

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