With a large group of Americans at or nearing retirement age — and with many of them having inadequate savings to last them through retirement — so-called “reverse mortgages,” wherein a lender converts the equity on a home into monthly payments to the homeowner, are being marketed as a financial cure-all to people wondering how they will be able to afford their golden years. But before anyone dives into the reverse mortgage pool, there are some thing worth pointing out. [More]
