Equity-Rich Seniors are Prime Target for Ex-Subprime Players
October 12, 2009
Consumer advocates are calling for stronger measures to protect seniors and prevent the reverse mortgage market from becoming another financial bust. Aggressive lending practices that were common during the subprime market boom are now being used to lure cash-strapped, equity-rich seniors to take out reverse mortgages, and regulators and Congress need to step in before things get out...
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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