Signs of Trouble for Reverse Mortgages
Reverse mortgages, the program designed to help cash-strapped seniors who own their homes outright, may result in the loss of seniors' biggest asset if they run into deeper financial trouble, Michelle Singletary writes in her Washington Post-Bloomberg column.
For many seniors, a reverse mortgage can be a saving grace. But this product isn’t without issues, according to a newly released report from the Consumer Financial Protection Bureau, which was required to study reverse mortgages as part of the Dodd-Frank financial-reform act.
Signs of Trouble for Reverse Mortgages
Michelle Singletary
Mon, 09 Jul 2012 03:00:08 GMT
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