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Can a reverse mortgage help you avoid foreclosure?

Shared by Helping_user on Mon Apr 09, 2007 1:46 am

The incredible rise in foreclosure throughout the United States has had an adverse affect on senior homeowners who may have refinanced an existing home loan being attracted by the low teaser rates of ARMs. However, one way of getting out of this trouble is to take out a reverse mortgage. Such a loan has certain features which may help a senior homeowner avoid foreclosure.

Source: http://boston.dbusinessnews.com/shownews.php?newsid=114202&type_news=latest
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