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Reverse Mortgage Info Knowledgebase » Listing Details |
| ID: | 11 |
| Title: | Home Equity Conversion Mortgages and Long-Term Care - http://ltc.georgetown.edu/pdfs/hecmexecsummary.pdf |
| Pagerank: | 5 |
| Description: | As the nation considers ways of meeting growing costs for longterm care services, there has been growing interest in the possibility that older people without other financial resources could draw on their home equity to help pay for their own care. One mechanism for doing so is a “reverse mortgage,” under which a lender advances money to an older person in return for a future claim on the home. Some older people with functional disabilities might be able to use proceeds from a reverse mortgage to meet costs for personal care, home modifications, or other assistance needed to remain in the home. Those not yet in need of assistance could use the funds to pay premiums for a private long-term care insurance policy. |
| Category: | Academic Research: Reverse Mortgages: Healthcare and Long Term Care |
| Link Owner: | |
| Date Added: | December 20, 2006 10:05:35 PM |
| Number Hits: | 8 |
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