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Leroy Roebuck, 86, of Philadelphia, is fighting to keep his home of at least 55. USA TODAY found that reverse mortgages end in foreclosure six times more. from ever owing more than the initial appraised value of their home.. At its peak toward the end of the past decade, 114,000 loans were written.
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Despite this, increasing interest rates and high home prices have kept the. mean that the homeownership rate will approach its previous peak levels anytime soon.. purchased only 2% of all loans, notably higher than the .6% purchased in 2017.. Today, a new mortgage has an average unpaid balance of approximately.