Massachusetts Discount Mortgage - Consumer Direct

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What Happens After My Mortgage Runs Out?

When your mortgage runs out your house is not taken away from you, nor is the loan due. You do not need to repay the loan as long as you or one of the borrowers continues to live in the house and keeps the taxes and insurance current. You can never owe more than your home’s value once the mortage is done.  For more on monetary stipulations for reverse mortgages the best place to look for information is right on the internet.

This entry was posted on Thursday, August 21st, 2008 at 9:03 pm and is filed under Uncategorized. Responses are currently closed, but you can trackback from your own site.

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