Consider the following statements:

  1. Reverse Mortgage Loans are designed only to serve the Senior Citizens
  2. The repayment of the Loan and accumulated interest is generally done by selling the property mortgaged
  3. The home equity in reverse mortgage loans decreases over a period of time.

Which among the above statements is/ are correct?

[A] Only 1 is correct
[B] Only 2 is correct
[C] Only 3 is correct
[D] All are correct
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