Finance
A reverse mortgage allows homeowners to:
ARefinance their home at a lower interest rate
BBorrow against their home equity without making monthly mortgage payments✓ Correct
CSell their home and lease it back
DTransfer their mortgage to another property
Explanation
A reverse mortgage allows homeowners aged 62 or older to convert home equity into cash without making monthly payments. The loan balance grows over time and becomes due when the homeowner sells, moves out, or dies.
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