Finance
A reverse mortgage in Ohio is designed primarily for:
AFirst-time homebuyers with no down payment
BHomeowners aged 62 or older who want to convert home equity to cash✓ Correct
CInvestors purchasing rental properties
DBuyers with poor credit who cannot qualify for conventional loans
Explanation
A Home Equity Conversion Mortgage (HECM) — the most common reverse mortgage — allows homeowners 62+ to convert a portion of their home equity into loan proceeds with no required monthly payments.
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