One of the main factors to be considered for a reverse mortgage of a home will be the value of the home. The firm offering reverse mortgage to senior citizens will have its team of professional appraisers who will check the value of similar homes which were recently sold in the same area. Some of the other factors to be considered while appraising the value of the home are the size of the home, amenities and features of the home, age of the home, views from the home and exact location. Well maintained homes with many amenities and gadgets installed will often have a higher appraised value.
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The amount a person will receive from a reverse mortgage depends to a large extent on the appraised value of […]