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Reverse Mortgage 101: Use Your Home to Stay at Home

Would your retirement be a lot better if you had extra income coming in?

Reverse mortgages also known as HECM (Home Equity Conversion Mortgage) is one of today’s most beneficial loans available for all eligible senior homeowners. Homeowners across the nation are eliminating their monthly mortgage payments with the help of one loan, Reverse mortgage loan. Though this loan is not for everyone, it is a great option to consider to help you live more comfortably. Free up some cash and allow yourself to be able to reap the benefits of retirement.

What Does a Reverse Mortgage Do?

The question should be, “What Can A Reverse Mortgage Do For You?” There are several reasons as to why a borrower would consider a Reverse mortgage loan. Some of us would love to live mortgage free but want to remain in our home, while others may want to free themselves from all financial obligations so that they can enjoy their retirement. The list can be as long as the Nile River for some of us and a Reverse Mortgage may very well be the solution to help shorten that list.

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About the Author

About the Author: Jessica Lucas is the managing editor for Mortgage Home Base, a top real estate finance blog dedicated to helping borrowers and home buyers understand the home loan process. Follow Jessica on Google +, and share your comments here. .
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