My latest take on Reverse Mortgages

Call me whatever you'd like, but you won't change my attitude towards reverse mortgages. Every time I see an article regarding them thar things, I stop and read it and what I seem to be reading MORE of is all the caveat emptor stuff rather than whatever good that might come out of one.

Frankly, as I have indicated in the past, I have had only one exposure to a reverse mortgage, but that ONE was enough for me. I can still remember the little ‘ol lady that got burned when she was forced out of her house because of a technicality which, in essence, removed her from having the home as her principal residence. That one little clause messed her up bad......

Here's the headline that grabbed my attention:
"U.S. regulator sounds alarm about reverse mortgages," and here's a quote from the article:

"Reverse mortgages could be the next subprime mortgage product to experience rapid growth while taking advantage of a vulnerable segment of the population, top U.S. bank regulator John Dugan said on Monday."

http://www.reuters.com/article/gc03/idUSTRE5574AR20090608