Article Publication Date:
Reverse mortgages offer older homeowners a way to tap home equity to meet financial needs in retirement. However, the collapse of the mortgage market in 2008–2009 has led to major changes that impact consumer choices. While consumers have more product choices, reverse mortgages are generally more expensive and more complicated. Learn more about how this has affected aging consumers and what Congress and regulatory agencies are doing to protect consumers here.
Sources:AARP Public Policy Institute
Home Equity; Retirement; Federal Housing Administration; Homeowners; Mortgage Market Meltdown; Fannie Mae; Loans; Home Value; Consumer Protections
AARP Public Policy Institute
Short URL: http://www.advancingstates.org/node/52848