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• Article type
• Home Finance Comparisons
• Reverse Mortgages vs. Home Equity Loans

Comparing Reverse Mortgages vs. Home Equity Loans

This is a tough decision that many people face as they enter their retirement years. Both options have pros and cons that need to be considered before making a decision.

Here are some things to think about when trying to decide between a reverse mortgage and a home equity loan:

-How long do you plan on staying in your home?

-What are your current and future needs for the money?

-What are the interest rates and fees associated with each option?

-How will each option affect your taxes?

-What are the repayment terms for each option?

Only you can decide what is best for your individual situation. Be sure to consult with a financial advisor to get more information about each option before making a decision.