| Informatie over lundurc3i0 |
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10-11-2020 |
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| Extra informatie over lundurc3i0 |
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Male |
| Bio: |
A single-purpose reverse home loan is used by federal government companies at the state and local level, and by not-for-profit groups too. It's a type of reverse mortgage that puts guidelines and limitations on how you can utilize the money from the loan. (So you can't invest it on an expensive holiday!) Generally, single-purpose reverse home mortgages can only be utilized to make real estate tax payments or pay for house repair work.
The thing to keep in mind is that the lender needs to authorize how the cash will be utilized before the loan is given the OKAY. These loans aren't federally insured either, so lenders don't need to charge home mortgage insurance premiums. However since the cash from a single-purpose reverse home mortgage has to be used in a specific way, they're normally much smaller in their quantity than HECM loans or exclusive reverse home mortgages. https://www.last.fm/user/heldaz9s0l |
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