Senator McCaskil: Reverse mortgages may become the next sub-prime mortgages

"“While reverse mortgages are great for some seniors, too many of our greatest generation are being hoodwinked by misleading advertisements and predatory lenders looking to make a buck,” McCaskill said. “Because these are government-insured loans the taxpayers are on the hook when they default. If we don’t put in place some better oversight measures, we’re going to end up in a mess worse than we saw with the subprime lending collapse.”"