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New Rules Make It Harder To Apply For Reverse Mortgages

Published April 27, 2015 at 1:20 PM EDT
The Federal Housing Administration is imposing new rules that will make it harder to apply for a reverse mortgage. (aag.com/Flickr Creative Commons)
The Federal Housing Administration is imposing new rules that will make it harder to apply for a reverse mortgage. (aag.com/Flickr Creative Commons)

Starting today, the Federal Housing Administration is imposing new rules that will make it harder to apply for a reverse mortgage.

The loans allow home owners over 61 that have home equity to convert that into cash, but there can be a lot of problems with the process.

Here & Now’s Jeremy Hobson looks at reverse mortgages with Jill Schlesinger of CBS News, who is also a certified public accountant.

Guest

  • Jill Schlesinger, business analyst at CBS News. She tweets @jillonmoney.

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    Politics & Government