Finance
West Virginia property owners who are 62 or older and have substantial equity may be eligible for a:
AUSDA development loan
BReverse mortgage (Home Equity Conversion Mortgage)✓ Correct
CConstruction loan
DBridge loan
Explanation
A reverse mortgage (HECM — Home Equity Conversion Mortgage) allows homeowners aged 62 or older to borrow against their home equity without making monthly payments. The loan is repaid when the home is sold, the borrower moves out, or they die.
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