What is Reverse Mortgage (San Antonio, PR)

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What is Reverse Mortgage

Living the Lifestyle You Deserve You Can Purchase a New Home With a Reverse Mortgage. Is a Reverse Mortgage Right for You A reverse mortgage is a special type of home loan that lets you convert a portion of the equity in your home into cash. The equity that you built up over years of making mortgage payments can be paid to you. However unlike a traditional home equity loan or second mortgage HECM borrowers do not have to repay the HECM loan until the borrowers no longer use the home as their principal residence or fail to meet the obligations of the mortgage. You can also use a HECM to purchase a primary residence if you are able to use cash on hand to pay the difference between the HECM proceeds and the sales price plus closing costs for the property you are purchasing. Yvonne C. Cousar REALTOR MRP Military Relocation Professional Real Estate Marketing Consultant Cell (210) 313-2210 Fax (210) 568-4387www.ehomelistings.netwww.satx4sell.co m eCertified

24-12-2023 UNITED STATES, San Antonio, PR
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