If you’ve been thinking about getting a reverse mortgage, and are in fact on the verge of making the decision to do so, it may behoove you to make that decision right now. A whole bunch of new regulations are going into effect April 27th, which will make things a fair bit more difficult for many people. In fact, industry experts are claiming that these changes will make reverse mortgages impossible for thousands of the elderly most in need of the extra cash. The LA Times provides slightly more in-depth coverage. Of course, two weeks isn’t a lot of time, so if you’re on the fence about a reverse mortgage, or just starting to look into one, you shouldn’t let this news unduly hurry your decision.
