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Can reverse mortgage borrowers rent out their homes?

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Reverse mortgage borrowers are typically allowed to rent a portion of a home so long as they continue to live in the home, and it remains their primary residence. However, before making any rental plans, borrowers should review the specific terms of their loan agreement and consult with their lenders, as requirements can vary depending on the type of reverse mortgage and lender policies. Learn More

This article is intended for general informational and educational purposes only and should not be construed as financial or tax advice. For tax advice, please consult a tax professional. For more information about whether a reverse mortgage fits into your retirement strategy, you should consult your financial advisor.

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