Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts

Government Plans Big Reverse-Mortgage Curbs

Tuesday, January 8, 2013 - 8:35 PM
Reverse mortgages, long criticized for high fees and other anti-consumer features, turn out to actually be the opposite—such a good deal that the government is nearly $3 billion in the hole on outstanding mortgages. As a result, the Federal Housing Administration (FHA) will later this month unveil sharp curbs on its loan product, called the Home Equity Conversion Mortgage (HECM).

Government Plans Big Reverse-Mortgage Curbs - The Best Life (usnews.com)
5
ShorebreakShorebreak2,599 posts since
Apr 6, 2010
Rep Points: 14,070
Reply