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Avoiding Costly Mistakes
Be Aware of Cross Selling:
Some lenders have ties or principle interests in companies offering additional financial products such as annuities, stocks, and/or insurance. It is important that you do not get “pushed” into other financial products. You must make the proper decision. You should always obtain the input of trusted advisors to make sure that you are doing the right thing. Also, you can obtain the reverse mortgage from a lender that does not sell any other financial product. In that way you will not have to be concerned about this potential conflict.
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