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Subject:  reverse mortgage substitute Date:  5/17/2006  10:23 AM
Author:  ww4321 Number:  10576 of 22193

If house is mortage free ( paid off) and you are 75 years old and you wanted to pull money out of your house for living costs--would it make sense to take out a 40 year mortgage instead of getting a reverse mortgae? From what i can see you can only get 1/2 the value of the house in a reverse mortgage.
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