Non-recourse

Non-recourse is a protection offered with certain types of reverse mortgage loans that prevents the borrower or the borrower’s heirs from being personally liable if the loan amount exceeds the home value when it comes due.

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Occupancy Clause

When you apply for a reverse mortgage, lenders must conduct...

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Principal

When you apply for a reverse mortgage, lenders must conduct...

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What is a Lender Credit?

What is a Lender Credit?

Many banks and mortgage lenders often offer borrowers lender credits to help pay for closing costs. Here we’ll discuss lender credits in...

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