Reverse Mortgages are yet another thing on the list of US things that I can’t believe are legal. When something is so obviously a scam, so obviously predatory and so obviously targeted at vulnerable people, yet it goes on for decades? I don’t understand it. Why are these things, and MLMs, and payday loans*, etc, allowed to exist?
*I know this one is complicated in that many poor people depend on them as the only form of credit they can get. That’s more down to the lack of any other social safety nets in the US, but still, this industry is incredibly under-regulated and engineered to trap people, so it deserves being on the list.
