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A reverse mortgage, also known as the home equity conversion mortgage (HECM) in the United States, is a financial product for homeowners 62 or older who have accumulated home equity and want to use this to supplement retirement income. Unlike a conventional forward mortgage, there are no monthly mortgage payments to make. Borrowers are still responsible for paying taxes and insurance on the.
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Program offers affordable loans for mobile home repairs – Residents can qualify for a loan up to $10,000 but CEO Dave Glaser said he expects most loans will be for smaller repairs around $1,000 to $5,000. Glaser said anyone with a mobile home in need of.
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