| Informatie over viliag83c2 |
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10-11-2020 |
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| Extra informatie over viliag83c2 |
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Male |
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A single-purpose reverse home mortgage is used by government agencies at the state and local level, and by nonprofit groups too. It's a kind of reverse mortgage that puts guidelines and constraints on how you can utilize the money from the loan. (So you can't spend it on a fancy holiday!) Normally, single-purpose reverse home mortgages can just be used to make real estate tax payments or pay for home repair work.
The thing to keep in mind is that the loan provider has to authorize how the cash will be utilized before the loan is given the OKAY. These loans aren't federally insured either, so lenders do not need to charge mortgage insurance premiums. However considering that the cash from a single-purpose reverse home loan needs to be utilized in a specific way, they're usually much smaller sized in their quantity than HECM loans or exclusive reverse mortgages. https://www.bookmarkidea.win/chuck-wesley-2 |
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