Federal Housing Administration Proposes Reforms For Reverse Mortgage Program Consumer Advocates Urge Additional Protections For Borrowers
Consumers UnionThursday, December 13, 2012Link: http://www.consumersunion.org/pub/core_financial_services/018516.html WASHINGTON, D.C. – In a letter (http://www.consumersunion.org/pdf/FHA_CU_121212.pdf) to the Department of Housing and Urban Development sent today,Consumers Union and the California Advocates for Nursing Home Reform applauded the agency for proposing steps to strengthen its reverse mortgage program, but urged federal regulators to consider a more comprehensive package of protections to ensure reverse mortgages are a safe financial option for seniors.