Types Of Bankruptcy

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July 28th, 2006

Don’t take out reverse mortgage in advance (Akron Beacon Journal)

Q: My husband and I (ages 73 and 83) have a lot of equity tied up in our home of 40 years. Because we will probably need money in the near future for living expenses, I’ve been trying to persuade my husband to look into a reverse mortgage. But he tells me your articles advise not obtaining one unless the homeowners plan to stay in their home at least five years. Therefore, he is reluctant to

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