Reverse Mortgage | How will it affect me?

Posted Leave a commentPosted in In the News, Market Reports, Mortgages

Reverse mortgage? How will it affect me? Those are the question that are unclear to many borrowers. There is a clear lack of understanding due to deceptive marketing practices. The Consumer Finance Protection Bureau has reported that there is confusion in the reverse mortgage market. Their report has identified mass confusion due to the following factors: Lack of Understanding: few completely understand reverse mortgages. Many consumers struggle to understand how their loan balance will be impacted. They also do not understand that they need to continue to pay taxes and insurance on their home. Younger Borrowers: The report found the […]