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⭒ New Developments

Report on Reverse Mortgages


Report on Reverse Mortgages
. The Consumers Union along with California Advocates for Nursing Home Reform and the Council on Aging Silicon Valley released a report calling for stricter oversight of the reverse mortgage market and new consumer protections for borrowers. Noting that “Reverse mortgages are a very risky deal for borrowers who don’t understand the complicated terms of the loan and how quickly fees and interest charges can add up”, the report offers tips for consumers to help avoid unnecessary or unsuitable transactions.