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Sept. 19, 2011
Thank you! Typo corrected!
Good article, with one little correction:
Unlike other equity loan products, homeowners do *not* need to repay HECM’s until they sell the home, *or the property ceases to be the primary residence of the borrower*.
As far as reverse mortgages and HELOCs are concerned, the housing market has all but eaten up equity in our members' homes.
Excellent article with relevant insights...well done!
One other thing that CUs should consider is the range of other services related to financial well being that seniors have...long term care insurance, supplemental health insurance, estate planning, funeral planning, trust services, and so forth. All of these are potential revenue sources from members who trust you and look to you to help them manage their financial futures.
Dr. Michael Hudson
How much was invested and loaned to CUSO...
Sophisticated Financial Tools Offer Big ...
Belvoir’s Price Comparison Tool Scores L...
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