WASHINGTON — The housing bubble, lax regulatory oversight and an influx of shady loan professionals have made lawmakers uneasy about the safety and soundness of the popular government-backed ...
Not all reverse mortgages are scams, but people exploring them should be extremely wary. Many reverse mortgage scams — carried out by unscrupulous parties from financial advisors to contractors — can ...
Government housing officials report that 46,000 reverse-mortgage borrowers under the government's insured loan program were delinquent on their loans as of July. This total is more than 50 percent ...
A reverse mortgage must be paid back when the borrower dies, moves out of the home or stops fulfilling the terms of the agreement, such as paying property taxes. You might choose to get out of a ...
Over the last decade, reverse mortgages have been marketed as an easy way for seniors to cash in their home equity to pay for living expenses. However, many have learned that improper use of the ...
A reverse mortgage could have benefits for a qualifying borrower, but anyone considering these loans should also be mindful of the potential risks. This is according to nationally syndicated personal ...
PHOENIX — An effort to enact Arizona's first-ever regulation of reverse mortgages has stalled amid industry opposition. Rep. Bill Konopnicki, a Safford Republican sponsoring the reverse-mortgage ...
Reverse mortgage lenders are beginning to require senior borrowers to qualify for loans by proving that they have enough money to continue paying property taxes, home insurance premiums, and other ...
Consumer demand for reverse mortgage products is expected to rise as the population ages more quickly. According to estimates from Business Research Insights, the global market is currently valued at ...
An Aug. 20 Real Estate article mischaracterized some of the options available to homeowners who take out reverse mortgages. If elderly homeowners choose to receive the funds from a reverse mortgage as ...
Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance. A ...
As far as anyone can foresee, it’ll continue to be a bad market for home sellers for some time to come, leading many homeowners to consider reverse mortgages or remodeling projects rather than selling ...
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