Downsizing With a Reverse Mortgage
Mar 22, 2010
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By Helen Modly, CFP, CWPA, and Sandra Atkins, CPA/PFS
Reverse mortgages have been available for several years as a way for seniors to tap the equity in their homes to provide cash flow in retirement. Now there is a new reverse mortgage program, the Home Equity Conversion Mortgage for Purchase program, that allows seniors to buy a home directly with a reverse mortgage.