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Reverse Mortgages

Reverse Mortgages

A reverse mortgage is a loan arrangement in which Illinois homeowners 62 years of age or older can receive a lump sum payment or monthly distributions of money by turning the equity in their home into cash. The borrower is not required to reimburse the lender until they move out of the home for whatever reason.

Reverse Mortgage Primer

Click on the image below to see the full version.   Reverse Mortgage Timeline

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