Seniors looking for a big cash payout from a reverse mortgage will have to look elsewhere for needed funds. A small but increasing number of defaults on the loan product has prompted a crackdown by the Federal Housing Administration (FHA) on the biggest payout loan to homeowners. The basic theory behind reverse mortgages - you must be 62 or older to apply - is that instead of making payments to a lender like in a traditional mortgage, the borro ...
http://www.businessinsider.com/landing-a-reverse-mortgage-just-got-tou
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