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Reverse Mortgages the Answer to Foreclosures?

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Reverse Mortgages the Answer to Foreclosures?

Economy

Reverse Mortgages the Answer to Foreclosures?

Reverse Mortgages the Answer to Foreclosures?

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  • <iframe src="https://www.npr.org/player/embed/17722769/17722765" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

How about this for a debt prescription: instead of paying your mortgage to the bank, the bank pays you. It's called a reverse mortgage, and some homeowners say it's a saving grace in an era of foreclosures.

For more on that and economic predictions for the coming year, Farai Chideya talks with economist and president of Bennett College, Julianne Malveaux.