Reverse mortgage may be best option for elderly homeowner

Associated Press Sunday 5th February, 2012

Dear Liz: My healthy and active 82-year-old mother is faced with having to sell her home this year because she's running out of money. She has lived a very minimal lifestyle for many years as her savings dwindled, and her income is now basically Social Security. She owes $25,000 on a home worth more than $700,000 in a top school district. We don't ...

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