Who Represents Reverse Mortgage Borrowers?

Did you know that there is a nonprofit, apolitical Pensions Rights Center. Now more than 30 years old, the center specializes in protecting the retirement rights of those who have earned pensions from their many years of work.

According to GuideStar.org, a national database of nonprofit organizations, the Pensions Rights Center is “the country’s only consumer organization dedicated solely to protecting and promoting the pension rights of American workers, retirees and their families.” It is a 501(c)(3) Public Charity, which means it must file an IRS form 990 detailing its finances to the public.

The 2005 form 990 on file at Guidestar shows that the organization had receipts that year of $1.76 million. (The report was filed in November 2006 and thus is the latest available. It is always a good sign when a nonprofit organization makes its form 990 easily and readily available to the public.)

The question that arises from the existence of the Pension Rights Center is this: Is there a nonprofit, independently-funded consumer organization that deals specifically with reverse mortgages? An organization which does not sell reverse mortgages, does not recommend particular counselors or lenders, and seeks lower costs and better terms for senior borrowers?

This entry was posted on Sunday, October 14th, 2007 at 5:04 pm and is filed under Reverse Mortgage . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.