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Promote the house—You might have to promote the residence to pay back the reverse mortgage loan. The loan servicer can settle for the lesser of the amount that you owe on the reverse mortgage loan or ninety five% of the current current market worth of your house. If the home is sold for much more than you owe, you could retain the excess proceeds

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Since it isn't really straightforward, or from time to time even probable, to divide sure property, spouses can occasionally get hold of “distributive” awards in lieu of assets. Distributive awards are monetary awards harking back to the buying husband or spouse’s share within the marital estate.You could choose to both pay out it in installm

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