Reverse mortgages under fire again
Jamie Patrick Hopkins
The Consumer Financial Protection Bureau (CFPB) issued a new report warning seniors against using a reverse mortgage as an income bridge to delay collecting Social Security benefits. While the report rightly points outs the potential risks of reverse mortgages, it demonstrates little understanding of the nuances of Social Security claiming strategies and overstates the typical cost of a reverse mortgage in today's marketplace.
Franklin, Mary Beth, "Reverse mortgages under fire again" (2017). In the News. 2460.