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How community banks can help young homebuyers

Independent Banker

Burmis, senior vice president and retail lending manager at $450 million-asset Chelsea State Bank in Chelsea, Mich. The community bank also hopes to participate in a new tax-exempt savings program for first-time homebuyers that was approved by the state of Michigan in April. So how can community banks help? Flexibility needed.

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Reverse Trend

Independent Banker

Community banks, which will continue to face a growing number of senior customers with everyday cash needs and built-up home equity, should explore this niche lending opportunity, two community bankers providing these specialty loans suggest. FirstBank, which has $2.3 The bank closes 35 to 45 reverse mortgages each month. About the market.

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