![]() There are other situations, though, when the loan could need to be repaid sooner. “Most people repay the loan when the owner dies, since the majority of people who use reverse mortgages are those who already have a significant amount of home equity,” says Cliff Auerswald, president of All Reverse Mortgage, a reverse mortgage lender. The last scenario can occur if the borrower enters an assisted living facility, moves in with family or downsizes.
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