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To Wait or Not to Wait...Is that the Question?
The Federal Reverse's recent move to lower interest rate, and, hopefully, stimulate the recovering economy is creating a new window of opportunity for seniors interested in a reverse mortgage. While this means less interest earned on savings account, and essentially using more of the prinicipal portion of your savings account more quickly, there is hope yet for those interested in a reverse mortgage.
In a recent Reverse Focus news report released on June 24th, Shannon Hicks, Vice President of Product Development at Reverse Focus, Inc., warns of the dangers of waiting and not taking advantage of the lower interest rates. In a report by the Boston Center for Retirement Research, investments and savings accounts only account for 10% of middle income Americans' total wealth, demonstrating a retiree's biggest asset is their home. 
In a low interest rate, recovering housing economy, the consumer has more buying power while housing demand continues to raise. In addition, homeowners are able to pay off more of their mortgage each month and the home values for senior homeowners raise a well--a useful tool when applying for a reverse mortgage.
To qualify for a reverse mortgage, you must be 62 years of age and older, live in your ... more

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