Jack Guttentag, "The Mortgage Professor" wrote a great piece about Reverse Mortgages in the Washington Post on January 23rd. Kudos to Reverse Mortgage Daily which pointed the piece out a few days ago.
The article is called "Reverse mortgages are not the next subprime" which refers to the horrendous statement made by John Dugan from the Office of the Comptroller of Currency(OCC) last year as well as the ridiculous, subjective and ignorant articles in Consumer Reports and by the National Consumer Law center (NCLC, whoever they are) that were just shameful.
Mr. Guttentag is one of the few people in the media who understand both teh pros and cons of the Reverse Mortgage industry. He explians that Reverse Mortgages have nothing to do with subprime and he explaisn why.
The article is excellent. Here is the link:
http://www.washingtonpost.com/wp-dyn/content/article/2010/01/21/AR2010012105405.html
Comments(2)