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what is a reverse mortgage really about: Reverse Mortgages--Easy income for the older homeowner? - 09/30/11 10:56 AM
  We've all seen the commercials with the beloved (somewhat older) celebrities touting the new "Reverse Mortgage" for the older homeowner.
Seems like a great idea, but what are they REALLY getting into?
What a reverse mortgage boils down to, essentially, is tapping your equity. Homeowners (62 and older) can qualify for these if their homes are owned in full or nearly paid off. The homeowner can choose how they are paid with this reverse mortgage; monthly, as an open line of credit, or in one big payment. The homeowner retains title, just as they would with an equity loan.
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Vicki Watzlawick (Illinois Foreclosure Expert)

Algonquin, IL

More about me…

Vicki, Broker Owner, Exit Platinum Realty, IL foreclosures

Address: 9203 Route 31, Lake In The Hills, IL, 60156

Office Phone: (847) 854-3800

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Illinois REO Realtor and Broker Owner of Exit Platinum Realty. Number One recruiter and Number One in Sales Volume for the State of Illinois. 5 year Certified Foreclosure and Shortsale expert for Illinois foreclosures. Co-author "Should I Short Sale My Home?" www.vickisdreamhomes.com



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