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The Internal Revenue Service does rule out financing breakthroughs to be revenue. The FHA-insured House Equity Conversion Home Loan, or HECM, was signed into law on February 5, 1988, by President Ronald Reagan as part of the Housing and also Neighborhood Growth Act of 1987. The first HECM was given to Marjorie Mason of Fairway, Kansas, in 1989 by James B. Nutter as well as Firm.
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