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Detailed text transcripts for TV channel - FOXNEWS - 20110617:22:08:00

Struggling. you re robbing peter to pay peter. they argue the cut of benefit overblown and they slow down increase in future benefit, not actually cut them. bret: seniors may soon find it tougher to get a reverse mortgage. peter barnes has the latest. yesterday, wells fargo became the latest lender to quit reverse mortgage market. they will allow the retired homeowners to borrow against equity in their property to get park to pay for everyday expenses. 550,000 seniors have about $80 billion in fha reverse mortgages outstanding. like younger homeowners with falling home prices, some struck to pay housing expenses so far, estimated $30,000 have gone in default. seniors don t have to make ....

Bret Baier , Wells Fargo , Reverse Mortgage , Peter Barnes , Reverse Mortgage Market , 80 Billion , 0 Billion , Housing Expenses , Home Prices ,

Detailed text transcripts for TV channel - FOXNEWS - 20110617:15:26:00

News conference and we re hoping to learn more. maybe one of the tips has helped police and led them to more information about where lauren spierer is. jon: i know her parents are desperate to get to the bottom of this. thanks very much, harris faulkner. jenna: a fox news business alert for you now, reverse home mortgages could soon be a thing of the house. wells fargo says they are not going to be originating any reverse mortgages, the housing market is too unpredictable. peter barnes is live in washington with more on this. peter we probably need a quick tutorial on what exactly a reverse mortgage is and why that matters. reporter: i got it for you, jenna. i want to start this by saying wells fargo is the biggest lender to quit the reverse mortgage market. in reverse mortgages an elderly homeowner can barrow against the equity in their property to pay for every day living expenses when they run low on their savings. about 700,000 seniors have about ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110618:08:08:00

it s among middle class families that are already struggling. you re robbing peter to pay peter. they argue the cut of benefit overblown and they slow down increase in future benefit, not actually cut them. bret: seniors may soon find it tougher to get a reverse mortgage. peter barnes has the latest. yesterday, wells fargo became the latest lender to quit reverse mortgage market. they will allow the retired homeowners to borrow against equity in their property to get park to pay for everyday expenses. 550,000 seniors have about $80 billion in fha reverse mortgages outstanding. like younger homeowners with falling home prices, some struck to pay housing expenses ....

Bret Baier , Reverse Mortgage , Peter Barnes , Wells Fargo , Reverse Mortgage Market , Housing Expenses , Home Prices , 0 Billion , 80 Billion ,