A Reverse Mortgage is a special type of private home loan that lets homeowners convert the equity in their home into cash. You can use your equity to receive a lump sum, monthly payment, or a line of credit that is tax-free and does not affect Social Security or Medicare benefits. The best part is there are never any payments throughout the life of the loan. You retain full ownership of your home and all repayments of the loan are deferred until after you permanently vacate your home.
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