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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Oct 26, 1991
Page
12
The concept lets seniors obtain cash from their homes without selling or making monthly payments. Lenders pay monthly checks or a lump sum, with repayment due when the homeowner dies and the house is sold. Private lenders have been slow to adopt the idea.
A column discusses reverse mortgages, FHA insurance, and a new book by Ken Scholen of NCHEC. The book explains options, lists lenders, and advises homeowners on how to approach lenders, with notes on lender interest and patient decision making.
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