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A reverse mortgage is a type of home loan that is obtained by placing one’s residential property as collateral. This type of loan is for senior citizens of over 62 years old. The homeowners then can borrow from their home's equity without any monthly mortgage payments. The borrower can take funds either in a lump sum, or line of credit. The reverse mortgage is payable after or when the last surviving member passes away or decides to leave the place. In either condition, the property is sold, and the money recovered is used to pay off the loan. Apply now and one of our experts will contact you to make sure this is the right loan for you.