When Reverse Mortgages Fail to Protect Homeowners From Foreclosure
The sharp downturn in the real estate market has impacted millions of Americans, and seniors are one of the groups most affected.
This is particularly true of seniors who have so-called "reverse mortgages." This type of mortgage can potentially be a good way for people over the age of 62 to get money out of their homes. But in a market in which so many mortgages are underwater, it can also raise the risk of foreclosure.
Reverse Mortgages
Reverse mortgages are not new. But older homeowners are increasingly turning to them to improve their situations later ...



