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Reverse-mortgage redo

from The Wall Street Journal

In an effort to shore up the federally backed reverse-mortgage program, federal housing officials are scrapping the most popular type of reverse mortgage on the market today, a move that will reduce the amount homeowners can borrow with a fixed-interest-rate loan. But the older homeowners who use these mortgages — and the family members who advise them — can still find ways to structure a reverse mortgage to meet their needs. more


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