• BREAKING NEWS ABC shows live and on-demand -- Download the WATCH ABC app!

Pros, cons of getting a reverse mortgage

Reverse mortgages are designed to give seniors a little more financial security. But there are new rules this year.
Monday, February 17, 2014

Reverse mortgages are designed to give seniors a little more financial security. But there are new rules this year.

And a reverse mortgage can be a bad decision for some seniors. Consumer Specialist Ric Romero got advice on the pros and cons from a mortgage lender.

Watch his report from Eyewitness News at 5 p.m.