- You must own your home
- You and all owners must be at least 62 years old
- It must be a primary residence
- You must pay off all mortgages and liens on the home
- You will receive either a lump sum, monthly payments, establish a line of credit or any combination of these.
- The amount you receive is based on your age, the value of the home and location
- Credit scores, income and health are not factors in qualifiying.
- You can never owe more than the value of the home when it is sold.
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