If the home is sold and the proceeds of the sale exceed the mortgage amount, the balance belongs to the borrower or their heirs. The counseling is required to make sure that the terms and risks of the program are clear to you. Can I get expert advice before [...] Reverse Mortgage FAQs The proceeds from the reverse mortgage can be used for anything, completely at the discretion of the borrower, though most borrowers use the funds for home repairs or modifications, health care expenses, to settle other debts, or for their long-planned vacation!
Silver Spring md homes

*Web Articles come from a variety of sources. We do not warrant the accuracy, completeness, or usefulness of any Article content on this Web site, or represent that Articles are error free. Please check with a professional before following any advice!