Sam in Reverse

Understand reverse mortgage options - Chicago Sun-Times

Shattered Dreams: Bob Massi from Fox News breaks down the basics http://video.foxnews.com/v/4513062/reverse-mortgages-what-you-need-to-know

When Jane Blume saw that her mother was running out of money, she was worried. Her mother, then in her mid-90s and still living in her Brooklyn co-op, was having difficulty paying bills. Her only sources of income were Social Security and rapidly-dwindling savings. http://www.foxbusiness.com/personal-finance/2011/01/20/reverse-mortgage-ok-parents/

Some seniors whose retirement savings took a hit over the last couple of years may have considered a reverse mortgage to help with expenses.

A reverse mortgage has long been considered a loan of last resort because of its high fees. Now, a new type of reverse mortgage is attracting the attention of more-affluent borrowers eager to extract cash from their homes. But older homeowners—and the adult children who advise them—need to be aware of the new trade-offs. Read the full article at

OLDER homeowners who have spent years building up equity may be tempted to cash out through a reverse mortgage. But high fees can make these loans pricey Continue reading at http://www.nytimes.com/2010/12/12/realestate/mortgages/12Mort.html

The Federal Reserve has been rightly criticized for not protecting borrowers — and the economy — in the years before the financial crisis. Under the law, it had the power and the obligation to curb bad lending. It was warned, by Fed insiders and by consumer advocates, of lender recklessness. It still failed to act. Read more at the NY Times http://www.nytimes.com/2010/12/20/opinion/20mon2.html