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John
Lv 5
John asked in Business & FinanceRenting & Real Estate · 5 years ago

Why do 'Reverse Mortgages' include >insurance<? Who is >protected<"?

3 Answers

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  • realtor.sailor
    Lv 7
    5 years ago

    You're talking about mortgage insurance. That's for the lender's benefit in case of foreclosure.

  • MadMan
    Lv 7
    5 years ago

    No. The borrower is required to take out insurance for the benefit of the lender.

  • Judy
    Lv 7
    5 years ago

    the lender

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