Reverse mortgages allow seniors to use their home equity while staying in their homes – but have been criticized for their high upfront fees, among other things. A new loan has hit the market, however, offering sharply lower start-up costs in exchange for a tighter limit on the amount that can be borrowed. “It opens up new options for people to think about in terms of how they tap their equity as a retirement resource,” said Barbara Stucki, vice president of home equity initiatives at the National Council on Aging
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‘Saver’ Reverse Mortgage Aims To Cut Start-Up Costs
