Reverse Mortgage Concept and Growth

The concept of reverse mortgages has been around for awhile, but banks didn't widely embrace reverse mortgages until a decade ago, when the federal government began guaranteeing them. In the last few years, they've quickly grown more popular as an aging population grapples with grim returns on stocks and retirement accounts. Between 2003 and 2004, the number of reverse mortgages issued nationally doubled to 38,000. In New Hampshire, 182 homeowners took out this type of loan last year, compared with just 21 in 2001.

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