On a reverse mortgage, interest is accrued monthly and added to the balance that is borrowed. Since no payments are due from the borrower on a reverse mortgage, the interest compounds over the life of the loan until repayment.
On a reverse mortgage, interest is accrued monthly and added to the balance that is borrowed. Since no payments are due from the borrower on a reverse mortgage, the interest compounds over the life of the loan until repayment.
PA Dep. of Banking License #20436
Old Glory Mortgage NMLS #131293
David Roomberg PA License #29245
David Roomberg NMLS #133123
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