Morning Minute: Caution and education urged on reverse mortgages

Get the facts on reverse mortgages
Reverse mortgages — which allow homeowners to convert part of their home equity into cash without selling their homes — have become a popular source of retirement income. But financial planners and the Consumer Financial Protection Bureau are urging consumers to be more cautious and do their homework before jumping into a reverse mortgage. Read more in the Wall Street Journal.

In other news:

Home prices are making it a buyers’ market; what do sellers need to know now? (Wall Street Journal)

Housing may be one of the bright spots in the economy during the second half of the year, CBS Money Watch reports.

 

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.