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Who owns the property, the lender or the borrower?

ust like a traditional mortgage, the borrower owns the property and the mortgage is simply a lien on the property. Once the borrower either dies, sells the property, or moves, payment is due on the mortgage. Any equity belongs to the borrower and their heirs.

Please keep in mind that the reverse mortgage industry in constantly changing and some of the information contained on this site may not be current. Please ask a licensed reverse mortgage professional for up-to-date guidelines.

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Learn more about how people are using home equity conversion mortgages for purchasing homes:

Please keep in mind that the reverse mortgage industry is constantly changing and some of the information contained on this site may not be current. Please ask a licensed reverse mortgage professional for up-to-date guidelines.