As long as you do your research beforehand, you will likely be just fine.. This page covers important information for NY reverse mortgage shoppers, including:.
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New York Reverse Mortgage | Click Quote Save – HECM stands for home equity conversion mortgage. Reverse mortgages allow for seniors to release a portion of the home’s equity to eliminate any existing mortgage payments. HECM’s are unique in that there are no monthly mortgage payments required – no other program has this unique feature. More than 600,000 seniors have taken out a reverse mortgage loan to improve their retirement, your not.
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