Banking · Mortgage Products
Reverse Mortgage is a product designed specifically for senior citizens, primarily to convert the equity in their home into:
- 1A single large, lump-sum loan for travel.
- 2A stream of regular, periodic income payments without having to sell the house or vacate it.✓
- 3An aggressive portfolio of high-risk stocks.
- 4A tax-free gift for their children.
Correct answer
A stream of regular, periodic income payments without having to sell the house or vacate it.
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