Monday, July 29, 2013

A REVERSE MORTGAGE NIGHTMARE

That is the title of this newspaper article that was referred to me from The Home Equity Theft Reporter Cases & Articles concerning property in Southhampton, New York:

HARTFORD COURANT - A REVERSE MORTGAGE NIGHTMARE

And according to the email I received from The Home Equity Theft Reporter Cases & Articles:

"Reverse mortgages, even today's friendlier versions that offer upfront counseling, can be hazardous to elderly borrowers' financial health and potentially costly for their heirs. Nearly one in 10 federally-backed reverse mortgages is in default, risking foreclosure for owners. Family members need to be involved from Day One. And stay involved."

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