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Economy / Mortgages #294962

CBS Evening News for Tuesday, Dec 18, 1984
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(Studio) Mortgage Bankers Association's report on record past-due mortgages outlined.
REPORTER: Dan Rather

(NYC) Homeowners' use of long-term reverse mortgage to prevent foreclosure examined; Ruth Robinson cited as example [ROBINSON - explains decision.] Implications of plan for elderly noted; reverse mortgage explained, illustrated on screen. [Prudential-Bache Secs. spokesperson Jim SETTEL - notes advantages under reverse mortgage concept.] Riskier reverse mortgage plan under experiment in California described. [American Association of Retired Persons spokesperson Leo BALDWIN - notes disadvantages to elderly of short-term reverse mortgage.] Implications of reverse mortgages for inheritors noted.
REPORTER: Jane Bryant Quinn

Quinn, Jane Bryant;
Rather, Dan

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