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Lawyers must be careful amid surging increase in reverse mortgages

from Law Times

Lawyers must be careful amid surging increase in reverse mortgages Law Times If reverse mortgages gain ground during the economic downturn, lawyers will want to avoid being caught in any error claims, says Ray Leclair, LawPRO’s vice president of public affairs. “To a certain extent, the reverse mortgage is a mortgage. So, there's nothing special about it,” says Leclair. “The concern is: lawyers should be more cautious when they're dealing with reverse mortgages, because of the issues — you're looking at, typically, what may be a vulnerable client.” READ MORE

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