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Reverse Mortgages
A reverse mortgage is a loan secured by home equity. The loan need not be repaid until the end of the loan term, which is usually when the homeowner no longer occupies the home as a principal residence, sells the home, or dies. To qualify for a reverse mortgage, a homeowner (and any co-borrower) must be at least 62 years old, must own a home free and clear (or have a very low outstanding debt), and must occupy the home as their principal residence.
Area Agency on Aging
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Tina Miller
Aging Specialist
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485-4216 Ext. 216
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Please note: Phone numbers listed are direct lines. The use of the extension is only required when dialing the main WPCOG phone number (828) 322-9191. |