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The buzz among homeowners continues to be about mortgage refinancing. Why? Because interest rates are still so low (6% for a typical 30-year loan). But what's more intriguing--and maybe a little scary--is the big surge in people taking out reverse mortgages. These are loans that let...

Author: /time Magazine | Title: The Backwards Loan | 2/17/2003 | See Source »

Here's my concern: though a reverse mortgage can be a good financial move under the right circumstances, it can also be an unnecessary straitjacket. Many seniors, hurt by falling yield payouts from their retirement accounts, are casting about for ways to maintain their standard of living. At the same...

Author: /time Magazine | Title: The Backwards Loan | 2/17/2003 | See Source »

--THE MECHANICS. Reverse-mortgage payouts come in three forms: a monthly payment for as long as you or your spouse lives (the annuity), a lump sum or a line of credit. You can combine these options.

Author: /time Magazine | Title: The Backwards Loan | 2/17/2003 | See Source »

Contained in the following list are the names of the various concerns with which connections were made for the men, and the number that entered the respective fields: accounting five, advertising four, banking 61, bond, mortgage, and loan two, business manufacturing educational institution one, Business School five, engineering one, executive...

Author: NO WRITER ATTRIBUTED | Title: VARIED FIELDS DRAW BUSINESS SCHOOL MEN | 2/8/2003 | See Source »

Kasprzak, 50, who grew up in the Rocky Mountains, is the director of a child-care center and preschool. Williams, 45, a Tennessee native, teaches family and child studies at Seattle Central Community College and does consulting work. They have an 11-year-old daughter at home and a 22...

Author: /time Magazine | Title: The Really Unfair Tax | 2/3/2003 | See Source »

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