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The typical reverse mortgage allows homeowners over 62 to tap into the equity on the present home and either get a line of credit or a lump sum of money. Talk with your children; discuss the pros.
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Taking out a mortgage to buy a home is a big commitment. It can be helpful to weight the pros and cons before making a decision. On one hand you’ll be able to buy a home and enjoy its equity, but on the other hand you’ll have to pay interest. There’s also the chance of foreclosure if you don’t pay.
A Small Saver Certificate (SSC. some small saver certificates come with checking-account-like features, such as mobile and online banking that allows easy investing, as well as paperless statement.
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