Home Equity Line vs Reverse Mortgage

Both home equity loan and home equity line are second mortgage, have income and creditworthiness requirements. The homeowner must make monthly payments to repay the loans.
A reverse mortgage generally has no credit score requirements. The homeowner receives cash from the lender, and does not have monthly payment.
Both cases require the homeowners continue to pay required property taxes, homeowners insurance, and maintain the home in good standing.
* Message from your Real Estate and Mortgage Broker, Andy Lamandyjustsold@gmail.com, 408-218-2513

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