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29 September 2010
When William Shatner played Captain Kirk on the Starship Enterprise, he was a young hunk guiding people to boldly go where no man has gone before.
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1 September 2010
Reverse mortgages can be complicated financial products that many borrowers find hard to understand.To help clear things up, the Federal Reserve is proposing a new set of disclosures to provide a better understanding of the costs and risks associated with them.
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16 August 2010
New rules designed to prevent loan originators from steering borrowers into more costly mortgages in order to increase their own compensation have been issued by the Federal Reserve.
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9 July 2009
Reverse mortgages are an increasingly popular way for senior citizens to tap into the equity in their homes in order to pay bills or improve their standard of living.However, they also have a number of shortcomings and potential risks that may be hidden through misleading marketing.
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23 May 2009
The new Home Equity Conversion Mortgage (HECM) lets seniors use a reverse mortgage to pay for the purchase of a home or condo.Many are taking advantage of this to get a purchase mortgage and then downsize into affordable homes.
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15 April 2009
While most exotic mortgage products marketed in the past 10 years resulted in loss and crisis, the much-maligned reverse mortgage has bucked the trend.Although it's a rather misunderstood instrument, the reverse mortgage has emerged as a savior for many seniors who are strapped for cash.
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7 April 2009
The federal government has raised the HECM maximum, which may give seniors access to more cash.
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23 October 2008
As the number of Americans in the "baby boomer" demographic peaks, seniors and retirees face the brunt of the mortgage crisis at a time when they're most vulnerable.According to the AARP, older people across the U.S.
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26 September 2008
Reverse mortgages are now wildly popular because the senior citizen population they serve is growing faster than any other demographic group in the entire U.S.But some critics argue that reverse mortgages cost too much to make them a suitable retirement planning vehicle.
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28 May 2008
As America's population ages, reverse mortgages are growing in popularity as a means for older homeowners to tap into their home equity for needed income.In order to best manage a reverse mortgage, it helps to understand them thoroughly, and follow a few basic tips and guidelines.
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26 July 2007
Until recently, reverse mortgages for primary residences were only available through a few regional banks.However, some national lenders have started offering them for second homes, as well.
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