CFPB issues report and consumer advisory on reverse mortgages

Yesterday, the Consumer Financial Protection Bureau released "a report highlighting the top complaints for reverse mortgages. According to the report, consumers are frustrated with their loan terms, servicer runarounds, and foreclosure problems. To help consumers who already have a reverse mortgage, the CFPB [also issued] an advisory with tips on how to plan ahead to protect loved ones from financial hardship brought on by a reverse mortgage." Read the CFPB press release, with links to the report and the advisory.

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