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A comment on Detroit wants to be the first big American city to tax land value. Parent comment

Re:Detroit wants to be the first big American city to tax la... by ensignavenger on Monday October 16, 2023 @10:45PM (#37909897)
Reverse mortgages are generally only available in the US after you reach a certain age.
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Re:Detroit wants to be the first big American city to tax la... by eru on Tuesday October 17, 2023 @12:14AM (#37910534)
Interesting. Is that due to federal or state regulation? Or a choice by the banks?
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Re:Detroit wants to be the first big American city to tax la... by ensignavenger on Tuesday October 17, 2023 @09:34AM (#37914797)
I am not sure, it seems to be a combination. The FHA requires the homeowner to be 62 or older for an FHA reverse mortgage. I have never seen a private reverse mortgage advertised, but apparently they exist and from what I have read online, are offereed to those as young as 55- but apparently are marketed to those with fairly expensive homes.
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