Late Payments Hurt Your Credit Score. Please be aware that missing a payment or making a late payment can negatively impact your credit score. To protect yourself and your credit history, make sure you only accept loan terms that you can afford to repay. If you cannot make a payment on time, you should contact your lender immediately and discuss how to handle late payments. Were Committed To Service, Speed Security.
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These loans allow these homeowners to convert a portion of their home equity into cash. With a reverse mortgage, the borrower doesn't make monthly payments to the lender.
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