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—leading to more scrutiny from Congress and regulatory agencies charged with protecting consumers.
Join for Just $16 A Year
- Discounts on travel and everyday savings
- Subscription to AARP The Magazine
- Free membership for your spouse or partner