The two biggest banks in the reverse mortgage business are getting out of it. Now, Bank of America and Wells Fargo accounted for less than half of the reverse mortgages in America, and other lenders are still writing them. But for cash-strapped seniors, it might be a good idea to explore alternative ways to stay in their homes.
The drop in BP's share price has erased more than $1.4 billion in fund value at 42 state retirement accounts. This comes at a time when pension funds are still struggling to recover from last year's market losses.