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Where a Reverse Mortgage May Fit
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- Divorce
- Bankruptcy
- Legacy planning
- Avoid foreclosure
- Buy a second home
- Access dead equity
- Insure home equity
- Save the family farm
- Pay off revolving debt
- Extend existing savings
- Create tax-free income
- Pay for in-home assistance
- Assist grandchildren with college
- Protect adult children’s retirement
- Eliminate current mortgage payments
- Afford to take vacations or visit family
- Supplement income to meet monthly needs
- Increase control over entire financial portfolio
- Establish financial safety net for unexpected expenses
- Manage tax consequences associated with other assets
- Insure surviving partner will be able to afford the home
- Purchase a home without income- or credit-qualifying, with no monthly payments
- Downsize to new home while enjoying additional wealth for a more secure retirement
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