Here is the link to the video

http://www.cnn.com/video/#/video/business/2009/08/29/nr.reverse.mortgages.cnn?iref=videosearch

The "Housing Expert" knows less about Reverse Mortgages than my five year old son. I cringed as almsot everything he said was incorrect. I'm used to negative pieces where the "expert" is wrong, but the tone of this one is pretty positive, just completely inaccurate.I'm used to negative pieces where the "expert" is wrong, but the tone of this one is pretty positive, just completely inaccurate.

Here's a few of the beauties that Clyde Anderson says:

1) A Reverse is not like a line of credit? Most Reverses have a line of credit
2) Have to own the home free and clear or owe very little? I have paid off $400,000 loans with a Reverse Mortgage
3) If the home is worth $200,000, you can pretty much get $200,000. No way Jose.
4) You {only} get paid monthly?
5) Pay it off only when you sell the property, What happens if the borrowers die?
6) Interest Free? I don't think so.
7) One of the cons is knowing that you can qualify for one?

This guy, like so many others who have gone on TV, Radio or written in a newspaper; just doesn't have the basic understanding of how a Reverse Mortgage works. He should have done a lot more research.