On Tuesday, the Consumer Financial Protection Bureau (CFPB) plans to
announce that it may soon be imposing a new set of rules upon the
heavily criticized mortgage service sector. The rules are an attempt to
promote culpability and transparency in an industry where such things
are in short supply.
Reverse mortgages are loans that allow seniors older than the age of 62 to access part of the equity in their homes. Whlle they can be a good idea for some, they're far less safe
than they sound for many senior citizens, including baby
boomers aged 62 to 64.