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.
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
Friday, October 07, 2016
Reverse Mortgages Are A Load Of Crap
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:
Do you think that Tom Selleck has a reverse mortgage?
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.
What I know about reverse mortgages would fit on a pinhead,but I still wonder why government regulations allow such a thing.
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.
9:02
If anything has government involved in it, I sure don't want to have any dealings with it.
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".
Tom Selleck is a big supporter of the NRA and Republicans of course he would never lie to us.
Reverse mortgage results in the bank owning your property and you will have to buy it back above market value
Remember that this is a "business" transaction and the ultimate goal is to get as much money from you as possible.
Better to sell your home and get a affordable condo or apartment..don't waste your life earned property on a gamble..
When its too good to be true - it is.
But I did enjoy Magnum PI back in the 1980s!
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