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Title: Be Careful with Reverse Mortgages
Written by zaj on 03/21/2008
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I just read an article from a while back in the NYTimes about the hazards of reverse mortgages for the elderly. They're often pitched in ways that confuse people and end up costing them a lot of money in fees and interest if they don't do it right. Really worth reading if your parents have or are thinking about tapping into this as a way to get cash to live on... also affects what they leave for an inheritance.

the main article:
http://www.nytimes.com/2008/03/02/business/02reverse.html

questions to ask before Taking a Reverse Mortgage:
http://www.nytimes.com/2008/03/02/business/02rside.html

Topics:  finances, inheritance, reverse-mortgages, scam

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