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Boston Globe on Reverse Mortgages 

May 24, 2011By

The Boston Globe issued a basic review of reverse mortgages and encouraged seniors considering the program to understand the options and costs before proceeding.   The report, presented by correspondent Elliot Raphaelson, offers a standard overview of the HECM program, including a brief comparison of the Standard and Saver programs.  Raphaelson encourages potential borrowers from only considering reverse mortgages from the FHA insured HECM program.  In general, the article lacks details to provide a significant review of the features of HECM loans. In discussing the requirement for mortgage insurance, the article explains the upfront and on-going costs.  Raphaelson than

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