ELDERLY HOMEOWNERS TURN TO REVERSE MORTGAGES

"From a public relations standpoint and, frankly, from any standpoint, foreclosing on a 76-year-old widow is not a very good thing," said William Texido, president of Providential Corp., a San Francisco-based company that specializes in reverse mortgages. Reverse mortgages' image prob...

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Bibliographic Details
Published inThe Salt Lake tribune
Main Author Andre Mouchard KNIGHT-RIDDER NEWS SERVICE
Format Newspaper Article
LanguageEnglish
Published Salt Lake City, Utah The Salt Lake Tribune 03.05.1992
Subjects
Marino, Frank
Texido, William
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Summary:"From a public relations standpoint and, frankly, from any standpoint, foreclosing on a 76-year-old widow is not a very good thing," said William Texido, president of Providential Corp., a San Francisco-based company that specializes in reverse mortgages. Reverse mortgages' image problem might have ended in 1990 when the Department of Housing and Urban Development agreed to extend a program to provide government-insured reverse mortgages until at least 1995. Texido and others say the government backing has helped boost the image of reverse mortgages among borrowers.
ISSN:0746-3502