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I applied for one a few years ago through Wells Fargo. It was not at all what I expected, they wanted to do the deal for $86000.00(all they would offer) on my place, which appraised for much, much more. From reading their contract it appeared they planned to get the place for that amount if and when I popped off.Now here is the kicker, reading closely, they would sell the property at their choosing and keep the difference from the sell price and the amount they advanced. We didnt do business. On the other hand a close friend of mine did the deal and it worked out very well. Now he recently passed away, his window will now have the home for the rest of her life. So I recon its like so many things, make your best deal and read the fine print very carefully.
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