A Kansas City TV news segment this week interviewed the non-borrowing spouse of a reverse mortgage borrower who had passed away, running with an investigative piece on the pitfalls of reverse mortgages.
Within hours, a follow up segment ran featuring an interview with National Reverse Mortgage Lenders Association President and CEO Peter Bell who offered responses to questions posed by the KCTV reporter.
Focusing on aspects of the reverse mortgage from mandatory counseling to Federal Housing Administration insurance, the reporter posed questions to Bell including the “high” interest rates reverse mortgage borrowers face and what happens when borrowers find themselves with less equity when they repay the loan than when they first took it out.
View the segment and follow up with Bell.
Written by Elizabeth Ecker