NYT: Changes on Reverse Mortgages Will Alter Fee Structure
For more: http://s.nyt.com/u/meTo
Starting Monday, the program will introduce a reverse mortgage product known as the Saver, which will nearly eliminate one of the biggest upfront fees that borrowers are required to pay. But the program will also make changes in its standard reverse mortgages that will significantly increase certain costs but, in some cases, make more money available.