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CNN: Analyst Weighs in on AARP and HUD Reverse Mortgage Lawsuit

Over the weekend, CNN correspondent T.J. Holmes reported on AARP’s lawsuit against the Department of Housing and Urban Development for changes made to its HECM program.

The segment lasts almost four minutes and includes an appearance by Clyde Anderson, Chief Thinker at Clyde Speaks, who weighs in on the situation.  The segment starts off as one would expect but slowly shifts away from the AARP lawsuit, to what Anderson thinks about reverse mortgages.  Does he think reverse mortgages can still be a good option for people?

“It depends on the situation, there are so many other options for you,” he said.  Does our “expert” recommend the loans?  Watch the video and find out.

Hint, he claims that borrowers have paid 20k in fees to get $1,800… we all know that’s not possible.  Having trouble viewing the video below?  See here.