Once-troubled reverse mortgages poised for rebound

SOURCE: Mortgage News Feed

Advertised as a path to an affordable retirement, federally insured reverse mortgages are showing signs of a rebound, drawing the scrutiny of regulators seeking to reduce historically high default rates that have cost the government billions. Industry analysts expect strong growth as the housing market improves, particularly in once hard-hit Sun Belt areas including Phoenix, Miami, and San Diego and aging Americans find value in growing old in their own homes.

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