Some cash strapped senior homeowners who were financially devastated by the recent economic downturn or Wall Street losses, have turned to a reverse mortgage to help fund their retirement living by accessing all or a portion of the equity in their home.
Federal Housing Administration-insured reverse mortgages are not for everyone. They can only be used by homeowners who are 62 years of age or older and own their home outright or have a very low mortgage.
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Topics: Home buyer, reverse mortgage, senior loan, home loan, loan rates, mortgage rates, home prices, property values, homes for sale in South Forsyth County, South Forsyth County real estate, Cumming GA real estate, homes for sale in Cumming GA,