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Here’s How To Buy A Home Using A Reverse Mortgage

http://www.wsj.com/articles/a-reverse-mortgage-to-buy-a-home-heres-how-1469026043Reverse mortgages are typically seen as a way for seniors to remain in their homes while drawing income from their property. Here’s how it works: Seniors 62 or older buying a primary residence make a down payment and pay closing costs.

” My wife and I have chosen to go this route and it has worked out well for us. Call me if you have questions or would like more information.”

Here’s how it works: Seniors 62 or older buying a primary residence make a down payment and pay closing costs. They then get a lump-sum loan that goes toward the home purchase. No monthly payments are required to pay down the debt. Instead, interest…Read more…

 

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