Minnesotans May Look Back at 2003 as Year Filled with Financial Misery - 2004-01-30
Sum up 2003 as a year filled with financial hardship for thousands of Minnesotans: Bankruptcies in the state surged to record highs while home foreclosures jumped significantly in the Twin Cities.

Like bankruptcies, mortgage foreclosures are a sign of a household's inability to make its revenues cover its expenses, particularly debt payments. And foreclosures were up throughout the east metro, rising 8 percent in Ramsey County alone last year to 380. Over in Hennepin County, they were up 15 percent to 1,058.
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Property Owners in Norwalk, Conn.-Area Look at Reverse Mortgages - 2004-01-30
The city's recent revaluation serves as a lesson that the steady climb in property values is a double-edged sword, particularly for senior citizens, who are watching property taxes continue to dig out larger chunks of their fixed incomes and retirement savings.

There is hope for worried seniors, however, in the form of an underutilized financial tool. A reverse mortgage can help ease the burden on seniors who have steadily become house rich but cash poor.
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