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Help HELP need get out reverse mortgage asap HECM ANY HELP??????
Took out 2012 with 393,439.50. mortgage no.1 paid off 160,000 and 160 lump sum given. Has gone to 507,312.37---. 23,332.10 interest last interest on DEC 2016 was 1998.12 I had asked if can take out more equity out last year. I WAS told did i pay anything on this reverse.I was shocked i didn't know had to pay back a reverse mortgage but was told if you paid interest each month the principal would not go up. and cant work will be 69 in June meanwhile lost rental. used money to fix rental and some other house repairs property taxes and bills for house. From January to October no rent .Finally rented in November. and only 2000. plus a small social security. June will be 69...the interest will go to 2000. for January statement. Being told by many i asked Don't sell and try to go to basement and rent OTHER apartment to get a second income and refinance to get out .IF i don't do something my equity will be eaten up by the interest in future. AND THE LOAN WILL BE TOO HIGH. if anyone has any other HELP . please advise. IF THERE IS ANYONE THAT CAN HELP ME with out my death. DEAR COMMUNITY NEED TO GET OUT OF THE REVERSE MORTGAGE BAY RIDGE BK. FANNY

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