Reverse mortgages attract more retirees
Interesting article over at Boston.com on the current state of play in reverse mortgages:
The number of seniors nationwide who took reverse mortgages in 2004 doubled from the previous year to more than 40,000, according to the US Department of Housing and Urban Development, which insures the loans. California, with nearly a third of the mortgages, ranked first, followed by Florida, Texas, and New York. Massachusetts ranked 11th, with 922 loans last year, up from 612 in 2003.
