MortgageReverse

Reverse Mortgages Used To Prevent Foreclosure

image Tom Kelly is a writer for Inman News and he just published an article about using a reverse mortgage to prevent foreclosure.  The article discusses how a reverse mortgage can help save a senior from foreclosure but most people aren’t aware this is an option. 

In the article George Downey from Harbor Mortgage is quoted saying, “Even if the numbers don’t work at first, creative arrangements may be available to cover a shortfall and make it work. But, who knows about this? Too few, and it is not adequately publicized.”  I couldn’t agree more.

Generally I would give some more highlights from the article but Inman has been known not to “appreciate” their content being displayed anywhere other than Inman.  Anyways, definitely check out the story at the link below, and thanks to Bill from Mortgage News Clips for forwarding this on.

Reverse mortgage bails out seniors facing foreclosure (Inman News)

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