What are the Pros of Applying for Reverse Mortgage?

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As reverse mortgage is only applicable for people from 62 years old and above, this type of loan is beneficial for people who only has equity who wants to take out loan for their needs. Another benefit of this loan is they can use the fund to whichever way they want, may it be for their daily expenses or for splurging in life. Also, a good benefit of this loan is unlike other loans with equity, borrowers can still live in the house up until they die, that the time lenders can take their house.

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