Finance
A 'reverse mortgage' in Georgia allows senior homeowners (62+) to:
AMake extra payments to pay off the loan faster
BBorrow against home equity with no monthly repayment required during occupancy✓ Correct
CTransfer the home to their children while retaining occupancy
DReduce their property tax obligation
Explanation
A reverse mortgage (HECM — Home Equity Conversion Mortgage) allows homeowners 62+ to borrow against home equity. No monthly repayment is required as long as the borrower lives in the home; the loan is repaid when the home is sold or the borrower moves out.
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