Context: High fees and aggressive marketing have been cited as problems with reverse mortgages . Under the new law , fees will be capped at 2 percent of the first $ 200,000 borrowed and 1 percent on the balance , with a maximum of $ 6,000 in fees . In addition , the law prevents lenders from requiring borrowers to purchase insurance , annuities , or other products as a condition for getting a reverse mortgage . Lenders are also prohibited from working with other professionals who are trying to sell seniors financial products as part of the lending process .
Question: What may have happened before the new law regarding reverse mortgages ?
Option 0: None of the above choices .
Option 1: Lenders capped fees at 2 percent .
Option 2: Home owners were at advantage with low costs
Option 3: Seniors were taken advantage of with high fees
Answer: 3