Senior Homeowners Warned of Risks of Reverse Mortgages

Linda and Jim McMahan said they could not believe their luck in 1993 when they found their dream house. "We loved it," she said. "It wasn't a huge house, but it was a nice size. ... It had the big trees in the yard. And we have deer in the yard every day, and wild turkeys. What more could you want?" As is true for so many Americans, the McMahans' home in St. Croix, Wis., was the couple's dream and nest egg. That is, until their home was drained of its 19-year equity by a reverse mortgage and...Full Story
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