The Office for National Statistics announced today:
"Net debt was £857.5 billion, equivalent to 60.3 per cent of gross domestic product, The public sector current budget was in deficit by £6.0 billion..."
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First of all, a reverse option mortgage, while it gives you extra spending money, is still another debt you'll eventually incur. You've worked hard to pay off the balance on
ReplyDeleteyour home, and applying for a reverse mortgage will effectively bring that debt upon you again, even though it doesn't have to be immediately repaid.
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