Tighter Rules on Reverse Mortgages

Borrowers face higher costs and lower loan amounts. And soon borrowers will have to pass a financial assessment, too.

Seniors shopping for a reverse mortgage will find the rules for these loan products are getting tighter. That means borrowing costs are increasing and loan amounts are shrinking. And some cash-strapped people may find it tougher to qualify for a loan.

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Rachel L. Sheedy
Editor, Kiplinger's Retirement Report