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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Zoltan! who wrote (8498)	11/4/1999 1:35:00 PM
From: MulhollandDrive	Read Replies (1) \| Respond to of 769670

Oh yes it is. That's why it's not always the easiest thing to convince the elderly that it may be a good solution. seniors-site.com Here's the Rub --- Although these payments to you will help with your finances, at the end of the term of the loan, the loan principal and interest are due! You never get something for nothing! As a general rule, however, your reverse mortgage doesn't have to be paid off for as long as you live in your home. The loan generally comes due only when you sell your home (or your home is sold after you die.) Before you sign a contract CHECK the repayment conditions. In some cases at the end of the term of the loan, if you are unable to repay the loan you can face foreclosure on the property so taking out a reverse mortgage should be done with extreme CAUTION -- AND with a sound financial institution!