What is a reverse mortgage?

What is a reverse mortgage?
A special type of home loan that allows you convert some of the equity in your home into cash. You built up equity in your home by making mortgage payments over many years. The equity can be paid back to you. You will retain the title and ownership during the life of the loan, and you can sell your home at any time. The loan will not become due as long as you continue to live in the home, maintain your home and pay your property taxes and homeowners insurance
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