Reverse Mortgages Gain Popularity - Blog

Reverse Mortgages Gain Popularity The housing market slowdown has boosted the popularity of reverse mortgage loans among those 62 and older. Between 2005 and 2009, the number of federally insured reverse mortgages jumped 166 percent. To encourage business, many lenders have reduced or waived upfront costs. A MetLife study in 2009 found that more than 50 percent of older high-income home owners have a mortgage and 45 percent have a home-equity loan. Posted by Michael Dunn @ 2:13 PM on 10/20/2010 Tags: Real Estate News

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