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Shifting That Home Loan Into Reverse
Reverse mortgages are moving full speed ahead.
The often-misunderstood reverse mortgage, which allows homeowners to take equity out of their homes, is rising in popularity among seniors searching for a new source of retirement income.
According to the National Reverse Mortgage Lenders Association [NRMLA], about 15,000 home equity conversion loans, a form of reverse mortgage, were originated in 2001, up from 9,000 the previous year. ...
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