I have often heard people say that they believe all of the equity in the home has been given away when using a Reverse Mortgage. The initial Reverse Mortgage is generally a fairly small percent of the property's value. I would say most Reverse Mortgages are around 45-70% of a property's value.
Over time the loan will grow, and hopefully the value of the home grows as well. There is a possibility down the road that the loan can be as much as the value of the home, but from the beginning there is a lot of equity remaining.
Helping Senior homeowners to stay at home and maintain a good quality of life
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