At look at risks and who really controls them
Reverse Mortgages Are Risky?
It’s interesting. Many media outlets and advocacy groups have painted some reverse mortgage borrowers as increasing their risks in retirement. Before we address that issue let’s take a look at pre-retirement risks. The Pew Research Center reports that the percentage of those who will not have enough money to retire comfortable has rose from 32 to 53% from 2002 to 2011.
Most risks in retirement and for those who get a reverse mortgage arise from independent choices made by borrowers themselves NOT flaws in the product itself.. a point overlooked by many.