Finance
In Wyoming, a reverse mortgage is available to homeowners who are:
AAny age with significant home equity
BTypically 62 or older who have significant equity in their primary residence✓ Correct
CAny age with FHA-insured properties
DAt least 55 years old with no existing mortgage
Explanation
Home Equity Conversion Mortgages (HECMs), the most common reverse mortgage product, are available to homeowners 62 and older with significant equity in their primary residence. The loan allows them to access home equity without making monthly payments, with the balance due when the home is sold or the borrower moves or dies.
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