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Remember, an exclusive reverse home mortgage is not backed by the federal government and also, consequently, will not have the same protections for customers. Single-purpose lending is the least pricey choice, but it differs from fundamental HECM lendings in that it can only be used for a single, lender-approved reason. For instance, the lending institution might claim that you can just utilize the lending for house repair work, property taxes or insurance costs. https://webhitlist.com/profiles/blogs/recognizing-home-mortgage-rate-of-interest |
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