(БРАТСТВО) The decision to take out a reverse mortgage should never be taken lightly, and the Consumer Financial Protection Bureau wants to make sure consumers are considering all of the perks and numerous pitfalls. The CFPB updated its reverse mortgage guide [PDF] to reflect recent changes that may make the often risky process of taking out a reverse mortgage a fraction less burdensome for borrowers and their families. Reverse mortgages allow a borrower, 62 years or older, to convert the equity on their home into a lump sum or monthly payments.
Cfpb: Reverse Mortgages Still A Risky Financial Decision Despite Some Added Protections
Ashlee Kieler, The Consumerist
Fri, 09/26/2014 - 7:01am
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