Which One of the Following Statements Correctly Relates to Reverse

question 80

Multiple Choice

Which one of the following statements correctly relates to reverse mortgages?

• A) The loans allow homeowners to build equity in their property.
• B) The total costs associated with the loans are relatively low.
• C) Borrowers only qualify if they are 65 years of age or older.
• D) Homeowner's make monthly payments of principal and interest.
• E) No payments are required from the borrower as long as the borrower lives in the mortgaged property.

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Definitions:

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