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REVERSE MORTGAGE PROGRAM GETS NEW NAME

 REVERSE MORTGAGE PROGRAM GETS NEW NAME
 SAN DIEGO, Feb. 13 /PRNewswire/ -- What's in a name? For a unique


home equity conversion plan for senior homeowners, it's a more accurate description of what a reverse mortgage could mean to them.
 Homearnings(SM) Reverse Mortgage, offered by Capital Holding Corp., is a way for California senior homeowners to tap the equity they have earned in their homes, without selling or having immediate repayment obligations. Seniors, 62 and older who own a home with a lending value of $75,000 or more, can receive tax-free monthly payments for as long as they live in their homes.
 "The monthly payments, which are proceeds of a loan, are based on the homeowner's age and the equity in their home," said Doug Kronenberg, chief marketing officer for Homearnings Reverse Mortgage. "And this money can be used however the homeowner wishes -- for vacations, home improvements or to pay bills," he added.
 Reverse mortgages have been available in the United States for about 10 years, but gained increased popularity starting in 1988. Nationally, more than 25,000 reverse mortgages are now in place from various sources, including a federally insured program and through private lenders, such as Capital Holding, a Fortune Service 500 company with stock traded on the New York and Pacific stock exchanges.
 "With increased popularity, there's increased demand for reverse mortgages. Our new name helps consumers differentiate between the various programs now available," Kronenberg said. "We see reverse mortgages continuing to gain popularity as a financial planning option to help senior homeowners enjoy their retirement years. Already, Homearnings Reverse Mortgage is one of the industry's largest privately funded programs."
 Currently, Homearnings Reverse Mortgage program is offered in California, Florida, Maryland, Virginia and Kentucky. Capital Holdings began offering reverse mortgages in 1988 and its program is funded by Commonwealth Life and Peoples Security Life Insurance companies, both members of the Capital Holding family.
 "In a relatively short time, our reverse mortgage program has grown substantially. Our typical California customer is 75-years old, single and owns a home with a lending value of $200,000. With a Homearnings Reverse Mortgage, this typical customer is eligible to receive $900 a month for as long as he or she lives in that home," Kronenberg said.
 Other customer benefits of the program include retaining full title and ownership of the home; no repayment obligation for as long as they live in the home; and a limit on the total repayment of the loan, no matter how many monthly advances they receive, protecting the homeowner's other assets.
 Kronenberg also said that a reverse mortgage may not be for every qualified homeowner. "We encourage anyone considering a reverse mortgage to consult with their financial adviser about their individual situation," he said.
 California residents interested in more information about Homearnings Reverse Mortgage can call toll-free, 800-431-8100.
 -0- 2/13/92
 /EDITOR'S NOTE: Homearnings Reverse Mortgage is a service mark of Capital Holding Corp./
 /CONTACT: Michael A. Bateman of Capital Holding Corp., 502-560-3891/ CO: Capital Holding Corporation ST: California IN: FIN SU:


JL-KJ -- SD001 -- 9543 02/13/92 08:05 EST
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Publication:PR Newswire
Date:Feb 13, 1992
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