Mortgage options ease burdens 'Reverse mortgages' still new enough for misunderstandings - 2004-01-13
FOR MARALYN KILPATRICK, the financial pressure placed on her was almost unbearable. The 69-year-old had a $30,000 credit card debt and $106,000 left to be paid on her home. What they found was the reverse mortgage, and it changed their lives.
A reverse mortgage is a unique loan that enables senior homeowners to convert part of the equity in their homes into income without having to sell the home, give up the title or take on monthly mortgage payments.
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