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Repaying reverse mortgage
Repaying reverse mortgage My mother has a reverse mortgage with a rate that just jumped up to 6.4% (from 4.4%) with a balance of $490,000. It's one where you can take out a lump sum, like a HELOC. We have the ability to pay it off and still have sufficient funds for her to live off of. Her mortgage allows her to make prepayments, and as long as she does not pay off the f...
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