reverse mortgages. But a federal agency has yet to say it will insure reverse mortgages originated in the state, and even if it does, some of the loans still may have to be structured differently than in other states.

Texas voters on Nov. 2 overwhelmingly approved Proposition 2, which made reverse mortgages feasible in the state. A reverse mortgage is a type of home equity loan geared to the elderly. It enables homeowners to convert their equity into cash. Repayment is generally due when the borrower dies or moves out of the home.

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