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Reverse Mortgage- Caution Needed

You see the ads on TV, in the newspaper, and online. They push the benefits of a reverse mortgage for homeowners over 62: pay off your existing mortgage, supplement your income, pay for healthcare expenses, and more. But is a reverse mortgage right for you? That depends. While a reverse mortgage may increase your monthly income, it can put your retirement security at risk if you’re not careful.

learn more from the Federal Trade Commission

 

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