Reverse Mortgages are still being offered and more and more seniors are taking advantage of the product.
There is widespread problems in the forward mortgage industry, however Reverse Mortgages are still a strong option for many homeowners.
HUD includes protection features in their Reverse Mortgage product:
Reverse mortgages also contain a “nonrecourse” component. The U.S. Department [...]

This is good information pertaining the counseling required by all individuals who are planning on utilizing a reverse mortgage.
The law requires reverse-mortgage borrowers to receive “adequate counseling” from a third party not associated with the lender, and it allows the government to create a new counseling program funded by mortgage insurance premiums.
It also reduces possible [...]