Reverse Mortgages are expensive

Go down

Reverse Mortgages are expensive

Post  freejack on Fri Jan 11, 2008 3:43 pm

I hear the costs associated with a Reverse Mortgage are high - they can be around 10,000? Is that right?

freejack

Posts : 4
Join date : 2008-01-10

View user profile

Back to top Go down

Re: Reverse Mortgages are expensive

Post  Walter Cabe on Tue Feb 05, 2008 11:14 am

Thats a good thought. I wonder what they do charge, is it interest or a lump sum?

Walter Cabe

Posts : 23
Join date : 2008-01-28

View user profile

Back to top Go down

Re: Reverse Mortgages are expensive

Post  Cherry Pearl on Thu Feb 07, 2008 11:19 am

I guess it depends on how much you borrow I know you have apraisal fee and closing cost like all loans.

Cherry Pearl

Posts : 20
Join date : 2008-01-29

View user profile

Back to top Go down

Re: Reverse Mortgages are expensive

Post  Sun Shine on Fri Feb 08, 2008 1:34 pm

Most of the charges can be added onto the charges of the loan. I don't think the out of pocket fee is actually that much.

Sun Shine

Posts : 20
Join date : 2008-02-05

View user profile

Back to top Go down

Re: Reverse Mortgages are expensive

Post  Foster Brown on Fri Feb 08, 2008 1:57 pm

No I think the federal government set this up as a way for senior citizens to live comfortably in their homes for their life time using the equity without having to worry about monthly payments.

Foster Brown

Posts : 20
Join date : 2008-01-28

View user profile

Back to top Go down

Re: Reverse Mortgages are expensive

Post  Sponsored content


Sponsored content


Back to top Go down

Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum