| Informacje o gillic834e |
| Dołączył: |
12-10-2020 |
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(ukryte) |
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| Dodatkowe informacje o gillic834e |
| Sex: |
Male |
| Bio: |
A single-purpose reverse mortgage is used by government agencies at the state and regional level, and by not-for-profit groups too. It's a kind of reverse home loan that puts rules and restrictions on how you can use the cash from the loan. (So you can't spend it on an expensive getaway!) Typically, single-purpose reverse home mortgages can only be utilized to make real estate tax payments or pay for home repairs.
The important things to bear in mind is that the lender has to approve how the cash will be used prior to the loan is offered the OK. These loans aren't federally guaranteed either, so lending institutions do not need to charge home loan insurance premiums. But considering that the money from a single-purpose reverse mortgage needs to be utilized in a particular way, they're usually much smaller in their amount than HECM loans or exclusive reverse mortgages. https://www.codecademy.com/profiles/glassadx96 |
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