Mortgage Broker

Reverse Mortgages ‘Revisited’ 

A report by the National Consumer Law Center (NCLC) is out this month, warning of the dangers associated with reverse mortgages. It marks the latest paper on reverse mortgages since the Office of the Comptroller of the Currency (OCC) in late September issued a consumer advisory warning consumers 62 years of age or older of the drawbacks and dangers associated with taking out a reverse mortgage — and outlining the benefits of these “complex loans.”