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Consumer Advisory 2009-2
September 25, 2009
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If you are 62 or older, or about to reach that milestone, you may find yourself considering a reverse mortgage to add to your retirement income or meet health care or other financial needs.
This Consumer Advisory, issued by the Office of the Comptroller of the Currency, is designed to help you better understand reverse mortgages. Reverse mortgages are complex loans and are secured by your home. It is important to understand the terms, risks, and costs before you sign a reverse mortgage contract. Make sure to consider alternatives to reverse mortgages.