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Rules Changing on Reverse Mortgages

by Deirdre Blake posted Oct 3 2013 9:45AM
Reverse mortgages are popular since you're actually borrowing money on the equity in the house, so you never have to owe more than the house is worth.
The federal housing agency that insures them is losing money though, so Geri Detweiler of www.credit.com says you now can't borrow as much as before. They're worried you might take out all the equity and not have enough left to pay for property taxes and insurance. 
 
Filed Under :
Topics : Social Issues
People : Geri Detweiler
10/03/2013 9:44AM
Rules Changing on Reverse Mortgages
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