To: byteback
I sold reverse mortgages in a previous life. They are government backed and a good deal for a certain type of senior. Do you realize that the borrower has no mortgage payments in such an arrangement and are able to access a good portion of their equity?
12 posted on
01/25/2012 12:10:27 AM PST by
2ndDivisionVet
(You can't invade the US. There'd be a rifle behind every blade of grass.~Admiral Yamamoto)
To: 2ndDivisionVet
Yes this is what the infomercials tell me. I assume they are only out to help the seniors/sarc off
20 posted on
01/25/2012 12:57:36 AM PST by
byteback
To: 2ndDivisionVet
I sold reverse mortgages in a previous life. They are government backed and a good deal for a certain type of senior. Do you realize that the borrower has no mortgage payments in such an arrangement and are able to access a good portion of their equity? I am very curious, what type of senior would this be good for? My father-in-law took one out, then changed his mind and paid it off.
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