Reverse Mortgages in the News


In The News Now

Widow's Reverse Mortgage 'Nightmare' Underscores Lifeline's Risks
NBCNews.com
Regulators have long been concerned that reverse mortgages -- a type of home loan that allows older homeowners to access the equity in their homes and defer payment until they die, sell or move out - can put homeowners like Hill in financial peril. All ...
Reverse Mortgage Financing – Preserving Lifestyle & AssetsJewish Link of New Jersey
4th of July Round-Up: The Post-Financial Assessment LandscapeReverse Mortgage Daily
HECM Production Surges to 22-Month HighMortgage Daily

all 4 news articles »


fiftyplusadvocate

Are reverse mortgages a scam?
fiftyplusadvocate
Equity Conversion Mortgages (HECM), more commonly known as reverse mortgages, were authorized by President Ronald Reagan in 1987 and are federally insured by the Department of Housing and Urban Development (HUD). Hundreds of thousands of ...
Bankrate: Paying Back a Reverse MortgageReverse Mortgage Daily

all 3 news articles »


USA TODAY

When a reverse mortgage can make sense
USA TODAY
Q: Our home has no mortgage. I am 86 and my wife is 79. Home value is about $260,000. Would we benefit from a reverse mortgage and what are disadvantages? Melvin Gatlin, Christiana, Tenn. A: Not knowing all that's needed to give a complete answer, ...



Bankrate.com

Here's what happens to their reverse mortgage after your parents die
Bankrate.com
As more seniors turn to reverse mortgages, their adult children might well be puzzled or concerned about what will happen to that debt when one or both of their parents eventually dies. At that time, questions about how to pay off the loan will need to ...



PhillyVoice.com

Reverse Mortgage Ads May Sidestep Potential Pitfalls
New York Times
Confusing and inaccurate advertising about reverse mortgages persists despite recent efforts to curtail it, a new report finds, so potential borrowers should be wary. A reverse mortgage is a loan that lets older people tap the equity they have built up ...
Reverse mortgages worth a look, if approached with cautionPhillyVoice.com
TV ads for reverse mortgages can misleadThe Denver Post
4 Reasons Reverse Mortgages Aren't Mainstream Products—YetReverse Mortgage Daily
KIMT 3 -Madison.com -McCook Daily Gazette
all 25 news articles »


Beyond the Commercials: Understanding Reverse Mortgages
JD Supra (press release)
You have likely seen the commercials for reverse mortgages. While the advertisements urge viewers to “call now to secure you reverse mortgage today” and make them seem risk-free, obtaining a mortgage of this type is a serious decision that should not ...

and more »


CNNMoney

Elderly could lose homes from reverse mortgages
CNNMoney
The study says that many homeowners do not realize that reverse mortgages are loans they eventually have to be paid back. They're confused by "incomplete and inaccurate" information from lenders, partly because they cannot or did not read the fine ...
Consumer watchdog weighs in on reverse mortgagesCNBC
Study: Reverse mortgage ads confuse consumersUSA TODAY
CFPB warns about reverse mortgage adsCBS News
wtkr.com -HousingWire -The Consumerist
all 126 news articles »


Reverse Mortgages May Be On CFPB's List Following Recent Study
Mondaq News Alerts (registration)
In a new study, the Consumer Financial Protection Bureau (CFPB) criticizes reverse mortgages as misleading and as having resulted in senior citizens being confused about exactly what such a transaction involves. The CFPB concluded that, although this ...



Huffington Post

6 Reverse Mortgage Tips To Rely On When Shopping Lenders
Huffington Post
A reverse mortgage is a viable proposition for homeowners age 62 and over. It allows them to access their available home equity while still holding the title to their home. The extra income can be used as the borrower sees fit, from remodels to medical ...
Consumer Reports: New Reverse Mortgage Protections Help, But Ads Still LackingReverse Mortgage Daily
CFPB study finds many reverse mortgage ads are misleadingChatham Journal Weekly

all 273 news articles »


Fixing a reverse mortgage trap
Miami Herald
Because like an estimated 12,000 other widows and widowers around the country, Stephens, 65, is a “surviving spouse” whose name does not appear on the reverse mortgage note. Though she and her husband, Raymond, had been assured multiple times ...

As a result of the reforms enacted by FHA beginning in September 2013 to protect non-borrowing spouses and ensure the long-term stability of the HECM program, much of the press coverage has been positive in 2014. In this section, we have provided links to some of the more favorable stories published in regional and national newspapers during the past year.

Kiplinger's Retirement Report-March 2015
Reverse Mortgage Borrowers Face New Financial Test

The Wall Street Journal-March 6, 2015
How to Pump Up Retirement Income By As Much As 30 Percent

Houston Chronicle-March 5, 2015
Reverse Mortgage: Should You Inform Your Family About It?

Forbes-February 19, 2015
Reverse Mortgages: The Risks and Rewards

LA Times-February 18, 2015
Relief Funds to Aid Seniors Struggling With Reverse Mortgages

The Wall Street Journal
-December 1, 2014
The Case for Reverse Mortgages

Kiplinger's Personal Finance-December 2014
Reverse Mortgages For New Home Buyers

LA Times-November 27, 2014
Understanding the Pitfalls of Reverse Mortgages

Bankrate.com-November 2014
Why These Seniors Got Reverse Mortgages

Huffington Post-October 9, 2014
When Even Wealthy Homeowners are Using Reverse Mortgages, the Question Is, Why Aren't You?

The Wall Street Journal-September 22, 2014
When the Client Educate the Advisor

Los Angeles Times- September 21, 2014
Many Seniors Trying to Retire With a Mortgage

The Washington Post-September 20, 2014
Reverse Mortgages No Fast Ticket to Retirement East Street

The New York Times-September 19, 2014
Parents, the Children Will Be Fine. Spend Their Inheritance. Now.

Associated Press/ABC News-September 15, 2014
Once Troubled Reverse Mortgages Poised for Rebound

Kiplinger's Personal Finance-October 2014
New Reverse Mortgage Rules Protect Younger Spouses