USA Today - As home equity conversion mortgages, also known as reverse mortgages, have grown in popularity in recent years, financial advisers have been employing them as risk- and cash-management tools. New government policy changes, however, may put a crimp in these strategies.
In 2010, HUD introduced an HECM option that dropped the large upfront costs of the products, which, in turn, made them more attractive to use proactively, said John Salter, professor of personal financial planning at Texas Tech University and partner with Evensky & Katz Wealth Management. The HECM is his research specialty.
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