Will Reverse Mortgages Be the Next Real Estate Disaster?
Some experts, including the National Consumer Law Foundation, believe there is danger unscrupulous brokers may be targeting our seniors.
This problem could become widespread in the industry and could even become as bad as the sub-prime mess.
What is the problem exactly?
These reverse mortgages are often complicated and difficult for some seniors to understand. (That was also one of the problems with the sub-prime loans in many cases.)
They are also being advertised as providing life-time income. This is false in many cases.
Read The next big real estate boondoggle
Reverse Mortgages May Be Next Subprime, Center Says
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