Frequently Asked Questions - ELMORE - Elderly Mortgage ...

crisis. When the state opened up Hardest Hit Funds to help avoid reverse mortgage foreclosures, ELM jumped at the chance to help seniors affected. As many as one in five of the reverse mortgages in the city of Detroit were delinquent. And while the average delinquency was under $5,000, many of these homes were saved for less than $1,000. ................
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