BBB expert explains potential pitfalls of reverse mortgages

Source: Fox 2 Now — 

ST. LOUIS – Reverse mortgages have been around for 60 years now and they are advertised to seniors as a way to access the equity of their home quickly. Since the pandemic began more than a year and a half ago some have been turning to these loans for some financial relief, but people must be aware of the potential pitfalls.

Chris Thetford from the Better Business Bureau discussed the possible issues with this option.