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WSJ: Standby Reverse Mortgage ‘Less Appealing’ After October 2

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Taking out a reverse mortgage line of credit for a rainy day may have gotten less attractive after the introduction of new principal limit factors and mortgage insurance premiums, according to a recent story in the Wall Street Journal.

“We anticipate more consumers waiting to get [a reverse mortgage] until they actually need it,” LendingTree chief sales officer Sam Mischner told the paper.