Which one of the following statements correctly relates to reverse mortgages?
A) Allow homeowners to build equity in their property.
B) The total costs are relatively low.
C) Borrowers only qualify if they are 65 years of age or older.
D) Homeowners make monthly payments of principal and interest.
E) No payments are required as long as the borrower lives in the mortgaged property.
Correct Answer:
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