Finance
A Kansas buyer uses a reverse mortgage. This means the homeowner is:
AA homeowner under age 62 seeking additional income
BA homeowner 62 or older who receives payments from a lender using home equity as collateral, with repayment deferred✓ Correct
CRefinancing to a lower interest rate
DSelling the home and renting it back from the buyer
Explanation
A reverse mortgage allows homeowners 62 or older to borrow against their home equity with no monthly payment required — the loan is repaid when the homeowner moves, sells, or dies.
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