The Bulletin --- Page: 50-51 : 15 May 2007 Original article by Pam Walkley
ABIX Summary
Reverse mortgages are very popular among older home owners. Kieren Dell, of the Senior Australian Equity Release Association of Lenders, says the value of reverse mortgages rose 77 per cent in the year to December 2006, from $A848 million to $A1.5 billion. This type of loan is not for everyone. People are advised to read all the documents carefully. Consumer magazine "Choice" examined 23 reverse mortgage products and found that only 10 met the magazine's five standards.
