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About Mike Brouse
A Reverse Mortgage is a loan designed to help older homeowners manage their retirement more effectively by allowing them to convert a portion of their home equity into liquid assets while retaining ownership of the home. Reverse Mortgages requires no monthly payments and they can be easier to qualify for than traditional financing. Not having to make a monthly mortgage payment can make it easier to pay for daily living or prepare for emergency expenses. Instead, repayment is deferred as long as the client resides in and maintains the property as well as pays property taxes, homeowner's insurance, and other related property charges. Best of all, the required mortgage insurance provides non-recourse protection.