Agent

Mortgage insurance may be a waste of money

Reverse-mortgage borrower hit with unnecessary costs
Published on Sep 21, 2004

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by CareyBot

DEAR BOB: I carry a senior citizen reverse mortgage with a $100,000 line of credit. The market value of my home is about $500,000. I pay a hefty PMI (private mortgage insurance) charge each month. Since there is no default ...

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