CBS News: Reverse mortgages may be ready for a revival
CBS MoneyWatch reports that, “reverse mortgages can provide a way for many Americans to fund a comfortable retirement and may grow in popularity as millions of baby boomers enter their golden years.” According to a June 2 article by CBS News writer Aimee Picchi, Bankrate chief financial analyst Greg McBride told CBS MoneyWatch, “The reverse mortgage is going to be a lifeline for millions of retirees in the years to come… In large part that’s because people may not have enough saved in their 401(k) plans or IRAs, and the bulk of their wealth may be tied up in the equity in their home. The reverse mortgage becomes the avenue to access those funds.” Read the full article.
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