There are many good reasons for the federal government to intervene in the economy, but diverting resources from less affluent first-time home buyers to seniors who already own homes would not be at the top of our list. Nevertheless, that is what the Federal Housing Administration's Home Equity Conversion Mortgage program – commonly known as the “reverse mortgage” – essentially does.

Foreclosure News



Leave a Reply

Your email address will not be published. Required fields are marked *