An ABC News producer contacted Boston elder law attorney (and ElderLawAnswers president) Harry Margolis looking for a senior who took out a reverse mortgage at a relatively young age to see how the mortgage is affecting them years later. We pass along her inquiry in case any of our members knows of anyone who fits this description:
“My name is Mary Harris, and I’m a producer at ABC News in New York. I’m working on a series on retirement for World News with Diane Sawyer, and we’re hoping to focus some of our reporting on reverse mortgages and the challenges they come with – especially now that younger and younger Americans are taking out these kinds of loans (and more Americans are taking out lump sums). Specifically: what are the financial consequences of taking out a reverse mortgage in your 60s v. your 70s? Ideally, we’d like to find an elder who got a reverse mortgage a few years ago and is now:
- looking to move into assisted living: can they afford this option?
- dealing with the fallout from a spousal death: what happens when one spouse takes on a reverse mortgage, but dies first?
“I’m reachable anytime at 212-456-0352 or 917-520-7742. I’m also reachable on email: mary.e.harris@abc.com.”
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