Credit and Debt
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The biggest scams of 2013
Are reverse mortgages a good idea for seniors?
For many seniors who have seen their savings accounts depleted since the economic recession, reverse mortgages have been an opportunity to unlock much-needed money from their home equity.
But a recent article from the New York Times says reverse mortgages come with a host of conditions and requirements, and that many seniors who have relied on these have lost thousands of dollars – and sometimes even their homes.