Reverse Mortgages Receiving More Attention
A recent Wall Street Journal article indicates that the number of government-backed reverse mortgages has increased 20% from the same period last year. This stands in contrast to the number of new home equity loans which decreased 70% from the same period last year. The increased interest in reverse mortgages is directly related to the fall-out from the financial crisis. Seniors who have suffered as a result of decreasing asset values in the capital markets see home equity as a potentially...
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