Reverse mortgage
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Reverse mortgages allow you to tap the equity in your home and stay there as long as you want, so long as you can continue paying property taxes, home insurance premiums, and maintenance expenses. Reverse mortgage fees have been criticized as too high, but the government recently began supporting a less expensive home equity conversion mortgage product called the HECM Saver loan. However, the “price” of smaller fees is that consumers get access to smaller shares of their home’s equity.
