Bank of America

Reverse Mortgages Are Not Going Anywhere 

With large banks Wells Fargo and Bank of America deciding to exit the reverse mortgage business, and issues about tax and insurance defaults, some have suggested that reverse mortgages have an uncertain future.   In the "Your Money" column in The New York Times, columnist Ron Lieber discusses these developments and notes that HUD has continued to stand by the program.  He quotes Vicki Bott, who left her post as deputy assistant secretary for the FHA single-family housing on Friday, as stating that people should not be concerned about HUD's intent for continuing to support the HECM program. In