Mortgage Professional America forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Reverse mortgage bonds hit 2016 high

Notify me of new replies via email
Mortgage Professional America | 27 Sep 2016, 08:15 AM Agree 0
About $996 million in Home Equity Conversion Mortgage-backed security pools were created in August, a high for the year
  • Judy Taylor | | 02 Oct 2016, 02:49 PM Agree 0
    The reverse mortgage program has saved my parents retirement.
    Our experience is one worth sharing, some things we learned along the way.

    - Expensive
    - The bank owns the home
    - Heirs won’t inherit anything

    I highly recommend you visit this comparison website, Click Quote Save dot com, they found us a lender who charged $0 upfront fees (savings of $6,000).
    We discovered that larger lenders charge more fees and it's the same exact program. Click Quote Save found us a bank that waived the origination fee without having to hassle and waste time.

    The title/ownership remains in my parent's name and if home values increase I will inherit the remainder of the equity.

    My parents are saving $24k/yr by not having a mortgage payment, and I don’t have to worry about their financial situation. They don’t need my assistance, everyone wins.

    If home values decrease or they live for another 30 years, I’m perfectly happy not inheriting any $ or the home. I just wanted them to have a comfortable retirement.
    Don’t believe all the negative comments without doing your research first. Like any other service and industry, there are good lenders out there.

    Best of luck.
    Judy Taylor
Post a reply