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Posted on 9/26/23 at 5:25 pm to WDE24
a friend up in Tenn did a reverse 5 years ago on a 900k paid for house. the equity left is only 400k. its a loan and a payment with interest accrues till you have no more equity left. problem is they have a hard time with upkeep of the house, insurance, maintenance, utilities and property taxes on their fixed income. so now they are trying to sell the house to at least get their remaining 400k equity thats left.
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