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Cancel Reverse Mortages

Your Right to Cancel your Reverse Mortage -

With most reverse mortgages, you have at least three business days after closing to cancel the deal for any reason, without penalty.

To cancel, you must notify the lender in writing. Send your letter by certified mail, and ask for a return receipt. That will allow you to document what the lender received and when. Keep copies of your correspondence and any enclosures.

After you cancel, the lender has 20 days to return any money you’ve paid up to then for the financing.