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How does a reverse mortgage affect property ownership?
1 Min. read
Homeowners with a reverse mortgage loan retain the title to their home. This means they remain the owners so long as they comply with the loan terms. These terms include paying property taxes, insurance, and maintenance to avoid defaulting on the loan. Similar to a forward mortgage, the lender will place a mortgage lien on the home as security for the loan. Learn More
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Chris Orzeske
Disclaimer
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.
