There are a few extra things to consider if you want to sell your home and you currently have a reverse mortgage. Just like with any mortgage loan, when you sell your house your reverse mortgage will need to be repaid, including any accrued interest and any applicable fees owed.
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How Does a Reverse Mortgage Loan Work?
One key feature of a reverse mortgage is that it does not require monthly mortgage payments. Instead, the loan balance accumulates over time, typically with interest.