7 On Your Side: Reverse mortgages could be risky way to save for retirement

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Many people realize they haven't saved enough for retirement and see a reverse mortgage as a possible fix. But, is it? (KGO-TV )

Many people realize they haven't saved enough for retirement and see a reverse mortgage as a possible fix. But, is it?

7 On Your Side's Michael Finney partnered up with consumer reports with this report on the pitfalls of reverse mortgages.

Borrowing against the equity in your home for retirement income can be a good idea. But reverse mortgages have a history of problems, and despite recent reforms, Consumer Reports says be careful. Watch the video for Michael Finney's full report.

Consumer Reports is published by Consumers Union. Both Consumer Reports and Consumers Union are not-for-profit organizations that accept no advertising. Neither has any commercial relationship with any advertiser or sponsor on this site.

(All Consumer Reports Material Copyright 2014. Consumers Union of U.S. Inc. ALL RIGHTS RESERVED.)
Related Topics:
shopping7 On Your Sideconsumer reportsconsumer concernsconsumermortgagesretirement
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