Reverse mortgage variation is aimed at seniors looking to downsize

That Ralph and Plum Smith bought a house last month in Brookings, Ore., is not terribly remarkable, at least not until you learn that he's 84 and she's 77. But what is even more noteworthy is that the couple didn't pay cash for their new $240,000 home, yet they will have no mortgage payments.

By Lew Sichelman

April 12, 2009