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Refinance with interest-only loan or take reverse mortgage

Refinance with interest-only loan or take reverse mortgage

This is a discussion on Refinance with interest-only loan or take reverse mortgage within the Mortgage Problems and Solutions forums, part of the Mortgage and Loans Forum category; I am 65 years old and want to do home repairs. It could approximately cost $80,000 and I have $250,000 ...

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10-25-2007, 01:39 PM

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Refinance with interest-only loan or take reverse mortgage

I am 65 years old and want to do home repairs. It could approximately cost $80,000 and I have $250,000 of home equity loan balance. Should I refinance with an interest-only for low payments or get a reverse mortgage or use IRA money and pay tax on what I take out?

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