Finance
What is a reverse mortgage and who qualifies in Ohio?
AA mortgage for investors buying foreclosures
BA loan allowing homeowners 62+ to access home equity without monthly payments✓ Correct
CA mortgage with decreasing payments
DA refinance to a lower rate
Explanation
A reverse mortgage (HECM - Home Equity Conversion Mortgage) allows homeowners age 62 and older to convert home equity to cash without monthly payments. The loan is repaid when the borrower sells, moves out, or dies.
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