Current Events > wtf is a Reverse Mortgage

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ssj3vegeta2
09/16/20 8:41:56 PM
#1:


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Laserion
09/16/20 8:44:41 PM
#2:


I think old people sell their house to the bank, and they let you live in it until you die, and get some spending money in your last years.
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southcoast09
09/16/20 8:46:17 PM
#3:


The bank basically pays senior citizens for the rest of their lives in exchange for their house when the person passes away. Instead of paying the bank a mortgage to buy the house, the bank pays you a mortgage.

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mustachedmystic
09/16/20 9:19:45 PM
#4:


According to Tom Selleck, it's not a way for the bank to get your house.

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Would you buy a book called Suggestions of Acquistion? - Gint
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Cobalt_Wasps
09/16/20 9:20:21 PM
#5:


i dont even know what a forward mortgage is

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Cleo_II
09/16/20 9:20:58 PM
#6:


In Soviet Russia, house pays you!
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Unsugarized_Foo
09/16/20 9:21:55 PM
#7:


Cleo_II posted...
In Soviet Russia, house pays you!

This, basically.

It's trash, just refi and cash out

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"All I have is my balls and my word, and I don't break them for anyone!"-Tony Montana
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