Secret second mortgage - 2004-03-12
If you already have a mortgage, can you obtain a second mortgage without anyone knowing you already possess one? M, London.

David Hollingworth at brokers London & Country mortgages says: The short answer is no. Lenders share information to prevent fraud and always carry out credit checks which will show up any other checks that have been made by other lenders and also indicate current credit commitments.
Read the full story at This Is Money

Reverse mortgages gaining in popularity - 2004-03-12
Huge numbers of seniors are taking out reverse mortgages and the federal government couldn't be happier.

With reverse mortgages, homeowners age 62 and older can draw money from equity they've built up over the years without incurring new debt and without having to move out of the homes they hold so dear.
Read the full story at Bankrate.com