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Article: Reverse Mortgages Give Older Texans A New Funding Source.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- November 15, 1999
- Author:
CopyrightCOPYRIGHT 1999 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Knight Ridder/Tribune Business News
Nov. 15 -- As far as Walter Ender is concerned, it's about time that reverse mortgages came to Texas.
The retired Dallas graphics designer said that if reverse mortgages had been in existence when his parents were alive, their wish to live out their last days in their beloved Richardson home would have been fulfilled.
Mr. Ender's parents became seriously ill and needed nursing care. It didn't take long for the family which didn't have long-term care insurance to go through their parents' savings to pay the bills. Eventually, they had to sell the house.
"If our parents' last remaining asset their ...