In the News

Title

CNBC: Reverse Mortgages Aren’t for the “Stupid”

Document Type

Article

Publication Date

4-24-2017

Abstract

Continuing its recent string of positive reporting on reverse mortgages, CNBC posted an article summarizing the new thinking behind Home Equity Conversion Mortgages last week — with the added caveat that the products aren’t for the “stupid.”

“You don’t have to be old, poor, and stupid to get a reverse mortgage,” the piece by CNBC reporter Andrew Osterland begins, before summarizing the reasons why the products earned such a reputation in the first place: cheesy television ads, unscrupulous brokers, and unwise borrower behavior.