Seniors were sold a risk-free retirement with reverse mortgages. Now they face foreclosure.
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Seniors Were Sold Risk-Free Retirement. Why are they facing foreclosure?

June 13, 2019

By Nick Penzenstadler and Jeff Kelly Lowenstein, USA TODAY Updated 9:34 a.m. CDT June 13, 2019

n a stealth aftershock of the Great Recession, nearly 100,000 loans that allowed senior citizens to tap into their home equity have failed, blindsiding elderly borrowers and their families and dragging down property values in their neighborhoods.

In many cases, the worst toll has fallen on those ill-equipped to shoulder it: urban African Americans, many of whom worked for most of their lives, then found themselves struggling in retirement.

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