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A Home Equity Conversion Mortgage (HECM), the most common type of reverse mortgage, is a special type of home loan only for homeowners who are 62 and older. A reverse mortgage loan, like a traditional mortgage, allows homeowners to borrow money using their home as security for the loan.
A reverse mortgage is a type of loan that allows homeowners 62 years of age or older to convert a portion of their home equity into cash without selling...
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