Archive for March, 2008
Reverse mortgage bails out seniors facing foreclosure
Reverse mortgage bails out seniors facing foreclosure,
For those with second homes, strategy can help keep property in the family
George A. Downey, a longtime reverse-mortgage lender, walked into a seminar designed to help people explore creative financing alternatives in an attempt to avoid default and foreclosure.
“There were some older folks in the room, but nothing [...]
Bid to regulate reverse mortgages stalls in House
Bid to regulate reverse mortgages stalls in House,
An effort to enact Arizona’s first-ever regulation of reverse mortgages has stalled amid industry opposition.
Rep. Bill Konopnicki, a Safford Republican sponsoring the reverse-mortgage legislation, said the state’s aging boomer population is resulting in more people reaching the age at which they might want to use the equity in [...]