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The Complete Idiot's Guide to Success as a Mortgage Broker by Marian Edelman Borden, Daniel S. Kahn

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Chapter 20
For Seniors Only
In This Chapter
• A market you can’t afford to ignore
• Looking ahead with a reverse mortgage
• Federal versus private funding
• Other loan options for seniors
 
For senior citizens, their homes can be an important source of equity. For those who owe little or nothing on their mortgages, a reverse mortgage may be an ideal way to provide the owners with a steady source of income. Seniors might also be interested in home equity loans as a means of meeting unplanned expenses. As a mortgage broker, you earn commissions, albeit reduced, but more importantly, you offer these homeowners a better financial option and steer them clear of scams and scam artists who prey on the elderly.
In this chapter, you will learn about the ...

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