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Can I use a reverse mortgage program to help with finances?

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Can I use a reverse mortgage program to help with finances?

Question: Can I use a reverse mortgage program to help with finances?

Answer: Yes you can use a reverse mortgage to help you with your finances. A reverse mortgage is a situation where you own a property and have a lot of equity in your home and you actually borrow money on a reverse mortgage basis so that each month you are taking money out borrowing money on the equity of your house. You have to be careful though that you don’t run out of money and the equity of your house is depleted before you run out of the resources to continue to support yourself financially.


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