No, the purpose of a reverse mortgage mortgage is to eliminate
mortgage payments permanently.
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A reverse mortgage lead is where you can get names of people
that are interested in getting a reverse mortgage. These leads
should already have been screened to meet the criteria for a
reverse mortgage.
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Yes, there are reverse mortgage scams, as well as regular
mortgage scams. You need to be careful who does your reverse
mortgage, so you do not get scammed
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a reverse equity mortgage usually refers to a reverse mortgage,
also referred to as a HECM loan. (Home Equity Conversion Loan). The
key difference between a regular mortgage and a reverse mortgage is
that no monthly mortgage payments are due on a reverse mortgage. A
reverse mortgage also does not have credit or income requirements
because there are no payments due. Qualification is based on age-
minimum age 62- the value of the home and its location.
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You can not get a reverse mortgage if you already have a reverse
mortgage in exsistence. If you do not have one you can go to a few
places for help such as; rvmortgage.com and allrmc.com