Reverse Mortgages Need More Regulation, The Comptroller of the Currency Says
Reverse mortgages are growing in popularity. But the dangers they pose to unsuspecting seniors are tremendous, according to the OCC. Also, reverse mortgages are extremely costly, which can be startling, especially if you don't understand all of the costs and fees that go into originating a reverse mortgage. Just because you don't pay out of pocket for a reverse mortgage doesn't mean it's not expensive.
