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What are the costs for Senior Reverse Mortgage products?

April 26, 2017costs products reverse mortgage Senior

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What are the costs for Senior Reverse Mortgage products?

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Costs for Senior Reverse Mortgage products can include origination and processing fees, closing costs (just like a first mortgage) as well as a monthly service fee and possibly mortgage insurance. All of these costs can be financed into the loan. In addition, there is a counseling fee which will be collected up front or it may be financed within the loan.