FINRA Warns Senior Investors About Reversing Fortunes With Reverse
Mortgages
The Financial Industry Regulatory Authority (FINRA) issued an
Investor
Alert urging homeowners over the age of 60 to carefully weigh all of their options before tapping
into their home equity through reverse mortgages to obtain additional income for their retirement
years. A reverse mortgage is an interest-bearing loan secured by the equity in a home and can be
helpful to homeowners having trouble meeting expenses. The FINRA Alert cautions homeowners that
these loans - which are being aggressively marketed as an easy, cost-free way for retirees to finance
lifestyles or to pay for risky investments - can jeopardize their financial futures.