Retirees face uncertainty with reverse mortgages

07/29/2013 | New York Times (tiered subscription model), The

Reverse mortgages are facing stricter requirements, forcing some homeowners who are nearing retirement to reconsider how they will tap into their home equity. This year, the Federal Housing Administration sought congressional approval for a financial assessment from potential borrowers, which could limit the number who can take part in the government's reverse mortgage products.

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