Older individuals who own their homes may find themselves "house rich and cash poor." Developed to address this dilemma, a reverse mortgage provides funds to an older homeowner by drawing against the equity built up in the residence. Unlike "forward" mortgages, reverse mortgages are not repaid on a monthly basis. The total loan is repaid when the last surviving borrower sells the home, vacates the property or dies. This article can be read in full with a Plus Edition account.
Business
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Business News in Brief
Hagan joins Keller Williams Realty
Maureen Hagan has joined the staff of professional real estate associates at Keller Williams Realty. She will be located out of the Newburyport office on Merrimac Street and also affiliated with the realty's Topsfield, Beverly and Salem locations. -
Lawmakers set to stop grocery price stickers
BOSTON — Grocery stores in Massachusetts would no longer be required to put price tags on each item and could instead deploy price scanners for consumers to use, under long-stalled legislation that quietly cleared the House this month.
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Business News in Brief
Perry to join Anna Jaques Hospital
Danielle Perry has been named director of marketing and public relations for Anna Jaques Hospital in Newburyport, effective May 30. In this role, she will be responsible for all marketing and public relations activities in support of the hospital and medical staff's strategic priorities, including showcasing clinical programs and physician practices. -
Business News in Brief
Annual Food Show: A Salute to Our Heroes tomorrow
Shaheen Bros., Inc. of Amesbury and the Home Base Program announced an Annual Food Show: A Salute to Our Heroes will be held tomorrow, 10 a.m. to 5 p.m., at the Frank Jones Center, 400 Lafayette Road, Portsmouth, N.H. -
Business News in Brief
Personal training facility opens in Salisbury
A new business offering a one-of-a-kind workout experience has recently opened its doors in Salisbury. All Natural Training is a personal training studio that caters to those who want to work out, but don't like the typical gym environment. - April 3, 2012
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- February 28, 2012
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- Newburyport's real estate market showing steady rebound
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- Whittier Tech students get on-the-job training at school
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Business News in Brief
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8 Hurt in Oklahoma Shooting After NBA Playoff
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US Airways: Diverted Flight Has 'Landed Safely'
Revived Focus on Regulation After JPMorgan Loss
