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Here are three reasons: You don’t have to make payments on these loans until you die or move, they are restricted to homeowners who are 62 or older, and reverse mortgages use two interest rates for.

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Looking into an FHA loan for your West Palm Beach home?. Low down payments; Low closing costs; Easy credit qualifying. that you want to re-model or repair, you can refinance what you owe and add the cost of repairs – all in one loan.