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Friday, October 07, 2016

Reverse Mortgages Are A Load Of Crap

Talk about horror stories, do you know anyone who has or is considering a reverse mortgage? DON'T DO IT!

 Please do your research before you fall for these jackass celebrities trying to convince you it's a great option. 

 I've had too many friends who fell for this crap and the end results were not good. Please share what YOU know or have experienced.
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11 comments:

  1. AnonymousOctober 7, 2016 at 8:05 AM

    Do you think that Tom Selleck has a reverse mortgage?

    ReplyDelete
  2. AnonymousOctober 7, 2016 at 8:38 AM

    Basically you concede all the interest you have paid then re-index as if you are drawing on a credit line at inflated interest payments. It's a lose, lose. End up with no or even negative equity.

    ReplyDelete
  3. AnonymousOctober 7, 2016 at 9:02 AM

    What I know about reverse mortgages would fit on a pinhead,but I still wonder why government regulations allow such a thing.

    ReplyDelete
  4. AnonymousOctober 7, 2016 at 9:45 AM

    Funny how those that push it will never need it!! I always discount the rich and famous when the advertise anything financial. I ignore the by gold commercials as well. I think having some gold is smart, but not buying from William Davane.

    ReplyDelete
  5. AnonymousOctober 7, 2016 at 12:16 PM

    9:02
    If anything has government involved in it, I sure don't want to have any dealings with it.

    ReplyDelete
  6. AnonymousOctober 7, 2016 at 1:45 PM

    I heard of a woman losing a 2 million dollar property because the bank decided she was "neglecting" the property. They just took it, and it was "legal".

    ReplyDelete
  7. AnonymousOctober 7, 2016 at 2:00 PM

    Tom Selleck is a big supporter of the NRA and Republicans of course he would never lie to us.

    ReplyDelete
  8. AnonymousOctober 7, 2016 at 5:33 PM

    Reverse mortgage results in the bank owning your property and you will have to buy it back above market value

    ReplyDelete
  9. AnonymousOctober 7, 2016 at 6:45 PM

    Remember that this is a "business" transaction and the ultimate goal is to get as much money from you as possible.

    ReplyDelete
  10. AnonymousOctober 7, 2016 at 8:14 PM

    Better to sell your home and get a affordable condo or apartment..don't waste your life earned property on a gamble..

    ReplyDelete
  11. AnonymousOctober 7, 2016 at 8:49 PM

    When its too good to be true - it is.

    But I did enjoy Magnum PI back in the 1980s!

    ReplyDelete

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