New Rules Change the Math on Reverse Mortgages
Jamie Patrick Hopkins
New federal rules that took effect Oct. 2 will raise upfront costs for some homeowners seeking a reverse mortgage, and reduce maximum loan amounts for most, raising the question: Is a reverse mortgage still worth considering?
Most experts say yes, although the increasingly popular strategy of taking a reverse mortgage line of credit—known as a standby reverse mortgage—may become less useful because credit lines will now grow more slowly.
Brown, Jeff, "New Rules Change the Math on Reverse Mortgages" (2017). In the News. 2481.