What do you pay with a reverse mortgage?

Reverse mortgage borrowers stay in their homes without making any required mortgage payments. However, in order to enjoy those privileges, they must stay in good standing with their loan. Homeowners who don’t meet their loan obligations will need to repay the loan. Obligations include:

1. Paying property taxes, homeowner’s insurance, and other home-related fees

2. Living in the home as their principal residence

3. Maintaining the home

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