Eden Lake Township is located in Township 122 North of the Arkansas Base Line and Range 31 West of the 5th Principal Meridian. Demographics As of the census of 2000, there were 1,526 people, 532 households, and 425 families residing in the township.
An average reverse mortgage costs close to $13,000, and is paid from the proceeds of the loan. That being said, closing costs are customizable, with some reverse mortgages costing closer to $2,500.No. The money you receive from a reverse mortgage is yours, and can be used for whatever you like.n average reverse mortgage costs close to $13,000, and is paid from the proceeds of the loan. That being said, closing costs are customizable, with some reverse mortgages costing closer to $2,500.
If the borrower just used the reverse mortgage proceeds to pay off the original mortgage, after ten years the reverse mortgage balance, including fees and interests, would be around $135,000. If on the other hand, you want to establish a line of credit or receive monthly income from the reverse mortgage, then you will want to have as much equity available as possible. For example, take the 65-year-old with the $300,000 home.