401(k) losses push younger retirees to look at reverse mortgages

10/10/2010 | Bloomberg Businessweek

Reverse mortgages were traditionally taken by widowed women in their 70s with little retirement income, but the stock market crash's effect on retirement savings has spurred interest in the mortgages in younger retirees of both sexes. Analysts predict the demand for reverse mortgages will increase because retired workers are looking for more income because of the recession and because the Housing and Urban Development Department has lowered upfront costs for borrowers.

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