INTEREST FREE LOAN

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INTEREST FREE LOAN

Post  Lizzy B on Tue Feb 05, 2008 9:49 am

Is the loan interest free?

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Re: INTEREST FREE LOAN

Post  Sun Shine on Tue Feb 05, 2008 10:19 am

I've never heard of the federal government giving or getting involved in interest free loans. The bank would have to make money on the money they are giving you and the only way would be by charging you interest.

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Re: INTEREST FREE LOAN

Post  Paul Jamison on Tue Feb 05, 2008 10:45 am

How I wish that it were interest free, I'd sign up in a minute.

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Re: INTEREST FREE LOAN

Post  Lizzy B on Thu Feb 07, 2008 12:20 pm

Reverse mortgage is the same interest as Traditional mortgage there is an interest rate applied and it is paid when the loan becomes due on the reverse mortgage.

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