With techniques, it is just as the conventional HELOC line of credit talked about prior to, however, you’ll find important distinctions

And you will, given that a good HECM reverse home loan can be planned due to the fact an enthusiastic “open-ended” credit line, similarly to a beneficial HELOC, if you’d like, you could potentially repay all the or a portion of the reverse home loan if you such as for instance and you may use the cash again regarding the coming. However you don’t need to make any repayments, should you choose not to ever, so long as you keep residing your house and you can meeting the loan debt to maintain the house and you will spend assets taxes and you may insurance costs.

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