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Amid losses, FHA sets new rules for reverse mortgages

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You’ve probably seen the reverse mortgage pitchmen at work on your TV screen — former Sen. Fred Thompson and actors Robert Wagner and Henry “Fonzie” Winkler prominent among them — urging seniors to pull cash out of their homes through a loan program guaranteed by the federal government.  But it looks like the pitchmen will have fewer and smaller mortgages to sell in 2013. In a move aimed at controlling losses to its insurance funds, [more]

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