One form of home equity conversion allows people to get a monthly loan based on their age, current interest rates, and the house's value. They repay the loan on a set date. This is known as a

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The described home equity conversion is commonly known as a reverse mortgage or reverse loan. This allows homeowners to convert their home equity into cash without having to sell the property. The loan is repaid when the borrower either passes away or sells the property.

One Form of Home Equity Conversion Allows People to Get