CBS News’ Gayle King Rehashes Times Reverse Mortgage Story

In recapping a New York Times article this week on reverse mortgages, CBS News’ Gayle King discussed default rates among reverse mortgage borrowers as translating to more seniors getting pushed out of their homes on its CBS This Morning show. 

Lenders are targeting older Americans by promising free money without explaining the risk, according to federal and state regulators, CBS said. The segment follows a front page NY Times article that outlines the risks associated with reverse mortgages, citing a Consumer Financial Protection Bureau industry report.

The default rate reached its highest level to date at about 9.5% of the loans, up 7% compared to 10 years ago, King noted.

Click here to watch the segment.

Written by Alyssa Gerace


Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular Articles

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please