| their home, minus the amount gmac mortgage corporate mortgage(s)) into a cash payment (or series of payments) while retaining ownership of the property. To qualify for a reverse mortgage in the United States, the borrower must be at least 62 and be able to pay it off an existing mortgage with the proceeds from the reverse mortgage and if needed, additional personal funds. The amount any individual gmac mortgage corporate is eligible for depends on their age and the Federal Housing Administration (FHA) appraised |
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