California Reverse Mortgages by your Sacramento Reverse Mortgage Provider

Six Ways To “Improve” Reverse Mortgages?

At a recent Senate hearing on reverse mortgages, a large Senior Advocate Group testified and offered six ways they says to make the program better. Here is the first one:  1.    Implement Changes to Strengthen the HECM Program including: financial assessments, tax and insurance set-asides, and limitation of upfront draws for certain purposes though public rulemaking.

Well let me make sure I understand, make seniors qualify, take some of the money they could get and put it in a tax set-aside account and reduce the money they can take… who are they trying to make it better for, the government?

Check it out here: http://blog.aarp.org/2013/06/24/six-ways-to-improve-the-hecm-reverse-mortgage-program/