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Pros and you will disadvantages from an opposite mortgage

While using a beneficial HECM, individuals have the ability to prefer how they receive money-either because of a fixed payment per month otherwise a line of credit if not specific mix of each of men and women selection. The bucks can be used for any purpose.

Proprietary opposite mortgages

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Exclusive contrary mortgages was backed by anyone loan providers providing them instead of the regulators. And you will unlike HECMs, this type of financing are typically accessible to individuals more youthful than simply 62. Czytaj więcej