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    0 Replies Latest reply on Sep 17, 2013 1:54 AM by ricky


    ricky Wayfarer

      A reverse mortgage can be used to pay off the remaining balance. A reverse mortgage has no monthly mortgage payment because the loan (both principal and interest) is paid in full once the home is sold. The amount you owe grows over time as the interest accrues based on the outstanding balance. There is no requirement to pay on the loan until you vacate the property. You can analyze your current scenario by using a reverse mortgage calculator.

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