Advertisements touting reverse mortgages often leave older consumers confused about the loan terms and unaware of the risks, according to a new report from the Consumer Financial Protection Bureau.
A three-year examination of reverse mortgage complaints to the Consumer Financial Protection Bureau shows that borrowers often didn’t understand the terms of those loans, including how quickly th eir loan balances would go up and their home equity would fall, the bureau said in a new report.
Owing as little as $400 in unpaid property taxes has gotten some American homeowners booted from their houses, according to a report released today by the National Consumer Law Center.
Helping Homeowners Tread Water: Meeting yesterday with distressed homeowners in Las Vegas-the 'foreclosure capital of the nation'- President Obama unveiled a plan to allow homeowners who owe more than their properties are worth to refinance mortgages at today's low rates, which are hovering near 4 percent.
Search AARP Blogs