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National Public Radio, or NPR as it is known to its listeners, recently did a short piece on the growth in both the number of new reverse mortgages, as well as the frequency of reverse mortgage scams. The NPR reverse mortgage piece wasn't necessarily negative on reverse mortgages, noting that they "work well" for some seniors. Rather, it acknowledged that some salespeople are using shady sales tactics and cross-selling other products to pump up their commissions.
The audio of the NPR's reverse mortgage news segment can be listened to on NPR's official site.
If you're considering a reverse mortgage, it's imperative that you know how they work and only deal with companies and sales people who have solid reputations.
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