Reverse mortgages in Puerto Rico cause financial calamity for many seniors
SAN JUAN – Reverse mortgages are failing at nearly double the U.S. national average in Puerto Rico, a problem magnified on the island by sliding property values, lenders’ responses after natural disasters and unique challenges ranging from spotty mail service to the lack of some loan materials in Spanish. Across the United States, the loans – which allow seniors to draw down equity in their homes – are falling […]
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