Reverse Mortgage Lenders Cut Fees

The competition benefits consumers, but a reverse mortgage can still be costly if the loan terms don't fit your needs.

EDITOR'S NOTE: This article, which has been updated, was originally published in the June 2010 issue of Kiplinger's Retirement Report. To subscribe, click here.

A price war is on: Reverse mortgage lenders want your business, and they are putting their products on sale by cutting loan fees. While borrowers can benefit from the competition, the terms of the reduced-rate loans could make them unsuitable for some homeowners.

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

To continue reading this article
please register for free

This is different from signing in to your print subscription

Why am I seeing this? Find out more here

Rachel L. Sheedy
Editor, Kiplinger's Retirement Report