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Reverse Mortgage Funding expands payment options on proprietary reverse product

Federally insured reverse mortgages are targeted at homeowners 62 years and older. They allow borrowers to supplement their retirement incomes by converting their home equity into cash via lump sum.

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Reverse Mortgage Funding announced Monday that it expanded the payment options on its proprietary reverse mortgage – the Equity Elite – to include term payments.. Previously, Equity Elite borrowers could withdraw up to $4 million in their home’s equity in a lump sum only at closing.

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Home Equity Conversion Mortgage (HECM) Products Reverse Mortgage Funding offers a full array of HECM reverse mortgages, plus the expertise to help you understand and navigate recent product changes made by HUD.. Rates are based on the one-year LIBOR index and all payment plan options are.

This article/post contains references to products or. The phrase “reverse mortgage” used to smack of scams and shady dealings. That’s not necessarily the case any longer. A reverse mortgage can be.

Today, I will examine the potential for inheritances and alternative financial products. there are no monthly interest.

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RMD Report: A Reputational Update on the Reverse Mortgage Industry – It’s no secret to anyone that works within it that the reverse. mortgage payment at traditional and very competitive rates?” he asks. While many in the reverse mortgage industry have seen the.