- Listed: August 12, 2022 3:12 pm
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The failure to meet the loan requirements included in the reverse mortgage. For example, the requirements of a Home Equity Conversion Mortgage (HECM) loan include occupying the home as the principal residence, keeping the home in good repair, and paying the property charges on time. A borrower’s failure to fulfill these obligations would cause the loan to fall into default and may lead to foreclosure.
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