Myth vs Truth About Reverse Mortgages - The Bank Will Own Your Home, True or False? #realestate

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Reverse Mortgage Myth #2: If I take out a reverse mortgage the lender will own my home. Fact: False.
Homeowners still retain title and ownership to their homes during the life of the loan, and can choose to sell the home at any time. As long as the borrower continues to live in and maintain the home and property taxes and homeowners insurance are paid, the loan cannot be called due.
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