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