Friday, October 7, 2011

This just in: seniors not squeezed quite dry

Good news from the National Reverse Mortgage Lending Association: U.S. seniors still have about $3.2 trillion left in home equity. Of course, why NRMLA thinks it's good news is the worrying part. From the press release:
“This index shows that seniors continue to have significant equity in their homes, despite modest declines in home prices,” said Peter Bell, President of the National Reverse Mortgage Lenders Association. “For many seniors looking for an effective way to fund longevity, a reverse mortgage remains a helpful solution,” Bell concluded.
Step right up and hand over your family's nest egg. Line forms to the right. Who's first?

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