Although recently reverse mortgages are getting some good press, this retirement income tool still retains a bad reputation with much of the public and significant portions of the financial services industry.
But why are such negative connotations associated with reverse mortgages?
Some of the troubles relate to misunderstandings, such as the idea that the lender receives the title to the home, or simple miscommunication among family members about future inheritances.
Some of these problems include: concerns about withdrawing too much too soon, the potential problems confronting non-borrowing spouses, and foreclosures for desperate borrowers who could not keep up with their property taxes, and more.
To learn about some of the more prevalent factors leading to the bad reputation of reverse mortgages read more from Forbes Online HERE:
