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A reverse mortgage should be the last option for seniors who are in need of extra cash. Financial experts recommend considering downsizing into a smaller home or obtaining cash through a different means first before considering a reverse mortgage. Serving senior living communities such as The Villages, Boynton Beach, Lady Lake and Hialaeh. Requirements. All borrowers on the loan must be age 62 or older; Complete a reverse mortgage counseling session.
These individuals have earned the Certified Reverse Mortgage Professional designation, thereby demonstrating knowledge and competency in the area of reverse mortgage lending, and a dedication to uphold high standards of ethical and professional behavior.
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Using a reverse mortgage, also known as a home equity conversion mortgage. in those homes-but that hasn’t stopped the trend from growing in retiree haven Florida, where authorities expect that it’s.
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"The rest of the country did better." Irvine Ranch in Orange County, Calif., kept the No. 1 spot with 1,814 sales, while The Villages in Florida maintained its position as the second most active.