reverse mortgage

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Detroit Woman, 101, Evicted From Home of 58 Years

Texana Hollis' son admits he stopped making payments

(Newser) - A particularly sad foreclosure story out of Detroit: Texana Hollis has been evicted from her home of the past 58 years ... at the age of 101. As if that's not depressing enough, Hollis and her late husband owned the home outright—but in 2003, Hollis' son persuaded her to... More »

New Reverse Mortgage Rules Help Homeowners

(Newser) - Reverse mortgages—which allow older homeowners to borrow against their equity without paying it back, as long as they live in the home—have risen in popularity since the federal government raised the limit on borrowing, the Seattle Times reports. The old ceiling for owners 62 and up was about... More »

Quick-Fix Cash Schemes Find More Takers

Reverse mortgages, insurance buyouts among risky moves

(Newser) - Big banks aren’t the only ones struggling to find the cash to keep going. Americans are feeling the pinch, and grabbing cash anywhere they can find it, the Wall Street Journal reports. Credit-card debts remains high, but more are turning to options that bring a quick infusion of cash... More »

3 Stories