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What Is Reverse Mortgage for Home Purchase Program An FHA reverse mortgage is designed for homeowners age 62 and older. It allows the borrower to convert equity in the home into income or a line of credit. The FHA reverse mortgage loan is also known as a Home Equity Conversion Mortgage (HECM), and is paid back when the homeowner no longer occupies the property.
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Yahoo and Bankrate are two of the most popular places to find mortgage rates. But what's the deal behind rates advertised on these sites? Let's take a look.