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By David Keene
Conference showed that the values Reagan cherished still endure
Topic - Chris Warner
"A traditional home loan requires income and credit qualifications as well as requiring the homeowners to make monthly payments on the loan balance," Mr. Warner says. "In addition, these homeowners will not have the option of taking out a reverse mortgage in the future until they have paid down the home-equity loan so they have equity available again."
"I've worked with several people who want to move and yet want access to the equity they have built up in their home," Mr. Warner says. "They can do this by using the equity from their home sale to purchase their next home. At the closing for that property, they can also take out a reverse mortgage so that they have access to some of the cash that they used to buy the home."