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Some people with an intention to get rid of this situation transfer their old car s remaining balance into a new auto loan.
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To not have to pay private mortgage insurance anymore private mortgage insurance pmi is sometimes required by lenders if you had to borrow more than 80% of the home's sale price. Under a reverse mortgage you are legally required to pay back to the lender only the outstanding balance. One advantage of reverse mortgages is that your ability to obtain one is not tied to your income.
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