AgentIndustry News

Turbulence seen for reverse mortgages

Fraud, costs, loan losses threaten to shrink program
Published on Oct 2, 2009

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by CareyBot

The reverse mortgage, which has proven very popular with the retirement-age crowd, has come under assault from two diverse groups: the government and scam artists.

Now I'm not going to argue with anyone who tries to say the government and scam artists are two sides of the same coin. That seems a bit mean. After all, the government attempts to do what's best for the consumer and the country, although sometimes the net effect of legislation appears to be as wounding to some people as theft through fraudulent practices.

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