“A reverse mortgage means you don’t make any payments, and the loan balance increases each month,” says Steve Hill, a mortgage broker at SBC Lending in Redondo Beach, California. “So, the loan balance gets higher each month instead of lower — it goes in reverse.” The money that a...
“A reverse mortgage means you don’t make any payments, and the loan balance increases each month,” says Steve Hill, a mortgage broker at SBC Lending in Redondo Beach, California. “So, the loan balance gets higher each month instead of lower — it goes in reverse.” The money that a...
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....
Review file, making sure everything is collected and prepare for submitting for processing – 30+ minutes. Start processing. We are a reverse mortgage broker (one who works with more than one lender) and we process the loans in our office, we don’t send them off somewhere to another of...
AARP Sues Wells Fargo, Fannie Mae Over Reverse Mortgage Doreclosuredoi: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 thei...
Review file, making sure everything is collected and prepare for submitting for processing –30+ minutes. Start processing.We are a reverse mortgage broker (one who works with more than one lender) and we process the loans in our office, we don’t send them off somewhere to another office...