Money - Making it/Keeping it
Let's first discuss what a reverse mortgage is. A reverse mortgage, commonly known as a life mortgage, is a loan made to senior citizens. It is usually used to release capital on a large scale or in installments. At the same time, the applicant agrees that if he moves or dies, the money can be returned by taking the house. This loan is provided to senior citizens over 62 years of age.
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Many retirement plans are centered around a dream home or ideal lifestyle. Maybe it's escaping to a lakeside cabin, living in a city apartment next to an orchestra, or finding a one-story residence next to the grandchildren. Each person’s retirement needs are unique, some retirees are approaching retirement life on a budget that falls far short of their dreams. In comes a game changer of the tiny home.
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