Why different answers - RE: Reverse Morgtage?
Posted January 24th, 2009Mr KIA asked: I have asked questions about reverese mortgages on YA for a while
I have received many different responses, who do I believe ?
I CALLED RM’ brokers I have found online and they too give erroneous or conflicting info.
I have been told You must live in the home for more than 6 months out [...]
Should a 72y/o widow w/no other assets sell home pay off reverse mortgage take remaining equity and rent apt?
Posted January 12th, 2009Redbird asked: Home is paid off except for reverse mortgage. Home’s market value is more than enough to pay off reverse mortgage and have more than adequate income for life expectancy.
If I take my name off the deed to my how so my wife can get a reverse mortgage, do i lose everything?
Posted January 7th, 2009bluesguitar asked: If I take my name off the deed to my how so my wife can get a reverse mortgage, do i lose everything?
Can I buy my parents place from them using a reverse mortgage?
Posted January 3rd, 2009Dian asked: I would like to pay for my parents upkeep . By having it strucutred as a reverse mortgage they are comfortable taking the money and it is tax free in their hands. As I am actually paying to buy the house I would also like to claim tax deduction on the monthly payments. [...]
How much does reverse mortgage counseling cost?
Posted January 1st, 2009Andy A asked: I was reading a site called www.reversemortgageabcs.com that talked extensively about the need for reverse mortgage counseling and even where I could find a counselor. However, it did not mention how much it would cost nor did it mention whether I would have to pay for it (or if the lender [...]