| What up front costs are associated with a reverse mortgage? |
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The homeowner(s) are required to obtain independent counseling, which may include an upfront fee paid directly by the borrower. Also, with the February 2009 changes to appraisal requirements, the homeowner(s) may similarly be required to pay the independent appraiser upfront. Cost that can be financed as part of the initial loan advance including origination fees and closing costs, including charges by the title and escrow company.
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