CNN Money has an article today which comes from Fortune and takes a look at the reverse mortgage loan and how it has been affected by the new housing legislation that was recently passed. This is important (and good to see) because this is a highly-credible and leading money site which means that people will pay attention to it and therefore gain a more solid understanding of the reverse mortgage.
For people who work with the reverse mortgage loan day in and day out, the news in this article isn't particularly informative. It simply takes a look at what the reverse mortgage loan is, how it works, what the benefits and drawbacks are and offers a warning about a few of the major problems with the reverse mortgage loan. But this is great information for someone who doesn't really understand reverse mortgages yet or who doesn't clearly see why the recent housing legislation impacts the reverse mortgage industry.
Check out the article here.
Question of the Day: Why is it a positive thing to see CNN Money looking at reverse mortgage loans?
