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What should I consider when taking out an uninsured loan?

Uninsured loans are not insured by the Federal Housing Administration (FHA) and are required to be paid back within a given time frame, usually within several years. These are useful loans if the care recipient needs some cash and expects to sell the home before or at the end of the term. Keep in mind that uninsured loans are rare and are only available in a few states. Check with a reverse mortgage specialist for more information on uninsured mortgages and to see if they are right for your loved ones.

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Important: This content reflects information from various individuals and organizations and may offer alternative or opposing points of view. It should not be used for medical advice, diagnosis or treatment. As always, you should consult with your healthcare provider about your specific health needs.