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Grandparents considering a reverse mortgage, should I buy out their current mortgage instead?
Grandparents considering a reverse mortgage, should I buy out their current mortgage instead? My grandparents (in their late 80s) are considering taking a reverse mortgage on their home (3Br/2B + 2Br/1B DADU). The property sits on about 2 acres in California and was purchased in early 2000's for less than $150k, Zillow estimates the value of the home today at around 1M. Up until recently I thought the house had to have almost been paid o...
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