AARP also offers information on alternatives to reverse mortgages, such as selling and moving, warning that if you enter a reverse mortgage, the equity in your home may not be available when you need it. AARP also advises that the money pulled out of the house be used wisely....
A reverse mortgage makes economic sense for you or your clients only when it will be long-term and there is substantial equity in the home. When considering a reverse mortgage, homeowners should evaluate their commitment to remain in the home and their current state of health. They also should...
as reverse mortgage expert originators, put into originating and processing a reverse mortgage let me walk you through an outline and approximate time involved. Note: While you may not read the outline
that a reverse mortgage could be a very expensive way to borrow money for a short-term need," said Lori Trawinski, a certified financial planner and director of the AARP Public Policy Institute.
* Independent Living Resource Center. This nonprofit group also publishes a list of reverse-mortgage lenders and a brief description of alternatives. But unlike the AARP, the center focuses only on California--which means its list tends to be more up-to-date than those offered by other agencies...
doi:urn:uuid:2d861bd3cd5a2310VgnVCM100000d7c1a8c0RCRDAARP filed a class action lawsuit against Wells Fargo Bank and Fannie Mae in connection with the foreclosure and eviction of reverse-mortgage borrowers and their survivors.Fox Business
Posted in Aging In Place, Bank Lender, Financing Options, Foreclosure, HECM, HUD, MN Reverse Mortgages, Mortgage Broker, Mortgage Lender, Retirement, Reverse Mortgage, Senior Financing, Senior Issues, Uncategorized | Tagged AARP, Aging In Place, FHA, Finances, Financial Planning, Foreclosure, HECM...