What is a reversable mortgage?

Wiis are fantastic Asked by wiitastic over 3 years ago, 1 answer.

What is a reversable mortgage?

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Answered by thedude on Jan 16, 2008, 04:46PM
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Not sure, a reverse mortgage is where you sell the house & keep living in it, and either take a large check or a payment schedule for your equity in the house.

Then after a period of time, the owner dies or similar, the house is sold by the bank.

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