Friday, February 4, 2011

New Variety of Reverse Mortgage Aims to Cut Costs

RISMEDIA, February 4, 2011—(MCT)—Reverse mortgages allow seniors to use their home equity while staying in their homes, but have been criticized for their high upfront fees, among other things. A new loan has hit the market, however, offering sharply lower start-up costs in exchange for a tighter limit on the amount that can be borrowed.
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Source: rismedia.com

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