Finance
A Nebraska reverse mortgage allows seniors 62+ to receive payments from their home equity. Repayment is required when:
AThe borrower reaches age 80
BAnnually based on interest accrued
CWhen the borrower dies, moves out permanently, or fails to maintain the property/pay taxes✓ Correct
DAfter 10 years regardless of occupancy
Explanation
A reverse mortgage becomes due when the borrower permanently leaves the home (dies, moves to care facility, etc.), fails to maintain the property, or fails to pay property taxes and insurance. Borrowers must continue living in the home as primary residence.
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