New Rules Make It Harder To Apply For Reverse Mortgages
Starting today, the Federal Housing Administration is imposing new rules that will make it harder to apply for a reverse mortgage.
The loans allow home owners over 61 that have home equity to convert that into cash, but there can be a lot of problems with the process.
Here & Now’s Jeremy Hobson looks at reverse mortgages with Jill Schlesinger of CBS News, who is also a certified public accountant.
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