Reverse-mortgage regulations aim to help aging citizens

05/6/2014 | Columbus Dispatch (Ohio), The

New federal regulations on reverse mortgages prohibit homeowners 62 or older from taking more than 60% of the loan amount during the first year in order to ensure they can afford to live in their home and to reduce foreclosures. Reverse mortgages can be part of a stable financial plan, some experts say, and the changes can ultimately allow senior citizens to stay in their homes longer.

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Columbus Dispatch (Ohio), The

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