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When you take out a loan you get the money upfront, but you still have to pay that money back PLUS interest. But I suppose, like credit, it feels...

The house is basically theirs. 100% free. So, they put it up as collateral on a loan, or did a reverse mortgage. The net result was they ended...

Likely a HELOC: Home Equity Line of Credit. Cashing out the equity of a paid off house, and re-mortgaging it, probably for a large amount due to...