Darryl Hicks
PER
Darryl Hicks Hicks
Demand is still growing, according to Darryl Hicks, associate director for the National Reverse Mortgage Lenders Association, a trade group in Washington. Mr. Hicks said they were up 56 percent in the first quarter of 2006. As property values have risen, Mr. Hicks added, a number of retirees who took out these loans years ago are returning for second and even third reverse mortgages to harvest the additional equity that has built up in their homes. According to Darryl Hicks, associate director for the National Reverse Mortgage Lenders Association said demand is still growing, a trade group in Washington. He said that in the first quarter of 2006, they were up 56 percent. As property values have risen, Mr. Hicks added, a number of retirees who took out these loans years ago, and they are returning for second and even third reverse mortgages to harvest the additional equity that has built up in their homes.