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Friday, June 17, 2011

. That is about as bad as it gets.

Here Is The Worst Economic News You Have Heard In The Last Five Years!

Well Fargo and the Bank of America have both announced that they will no longer offer Reverse Mortgages.

Understand that a Reverse Mortgage is basically a bet against the future, e.g., the value of the home with the reverse mortgage will grow enough to pay off the mortgage and all the associated costs.

Wells Fargo and Bank of America no longer believe there will be ANY growth in the home market in the foreseeable future.

That is about as bad as it gets.

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