Does the reverse mortgage lender own your home?
You remain the owner of your property. There is no change to the deed or title of your home when completing a reverse mortgage.
How will the reverse mortgage lender determine how much money you will need at closing?
The down payment you will need to bring to closing will be determined based on your age, interest rates at the time and the sales price (or appraised value, whichever is less) of the home you are buying.
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