ReverseMortgage

Do you fear something awful is around the corner when it comes to your finances? Given recent years' economic woes, it's not unreasonable. But you can turn your worries to your advantage by planning for the worst before anything goes wrong.

If you're a senior citizen who owns a home with equity, you may have heard some buzz about reverse mortgages. Increasing in popularity and attention, reverse mortgages are for homeowners 62 and older. The benefits of reverse mortgages are high, but so are the risks. Basically, reverse mortgages...

Bad actors have solidly shifted their attention to reverse mortgages, causing a top consumer organization to warn seniors to choose such loans carefully. A new report by the National Consumer Law Center likens the aggressive lending practices in today's reverse mortgage lending to those common in...

The FBI is warning senior citizens to protect themselves with reverse mortgage deals on the sharp increase and the number of scams increasing along with them. Since 1999, reverse mortgages have increased by 1,300%, the FBI said. Reverse mortgages, also called Home Equity Conversion Mortgages, are...

Reverse mortgages have long been thought of a creative way for retirees to generate income: By slowly giving up equity in their homes over time, they could generate cash for their living expenses. When they no longer needed the house, it could be sold and the bank could be paid back with the...