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chow
Joined: 22 Jan 2005
Posts: 2350
Location: Cornfield County, Indiana
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| Posted: Wed Apr 20, 2005 3:52 pm Post subject: Reverse Mortgage-What is it? |
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http://www.reversemortgage.org/
I'm throwing this link out here in case anyone has a request for one, or needs to know what they are.
Most of the information is found in the site. You need to be a mortgage banker to write them, however brokers can be paid referral fee's. |
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Haplo
Joined: 20 Jan 2005
Posts: 2422
Location: Springfield, IL
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| Posted: Wed Apr 20, 2005 5:45 pm Post subject: |
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| Or if you don't want to hassle with the referral fee you can send em over to me and I'll get em hooked up ;) |
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Jenie0109
Joined: 27 Jan 2009
Posts: 307
Location: chicago IL
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| Posted: Thu May 14, 2009 12:18 pm Post subject: |
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| Great link. nice one! |
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Roger_Silvester
Joined: 29 Jun 2009
Posts: 51
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| Posted: Tue Jul 07, 2009 6:31 am Post subject: |
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Thats indeed a very nice resource.
I still have a question in my mind, Is there any difference between a reverse mortgage and a bank home equity loan or a second mortgage?
Can anyone clarify something on it. |
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EricJ
Joined: 09 Jan 2009
Posts: 321
Location: New Jersey
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| Posted: Fri Aug 07, 2009 1:18 pm Post subject: |
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Roger
A reverse mortgage pays you in two ways (lump sum or line of credit). The line of credit which is the more popular option means that you just draw an allowance from it whenever you need money. The good part about that is you are only charged interest on what you have drawn. A home equity loan or second mortgage requires that you draw it all out at once whether you need it all at that moment or not.
See my full description here...
REVERSE MORTGAGES |
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Josh Harmatz
Joined: 08 Sep 2009
Posts: 18
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| Posted: Thu Sep 17, 2009 9:19 pm Post subject: |
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| Reverse mortgages are good loans for borrowers that qualify for them. |
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mrnyke
Joined: 26 Feb 2010
Posts: 2
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| Posted: Fri Feb 26, 2010 12:06 am Post subject: |
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I was wondering about this myself
glad I found this forum |
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Lewis-financial-cocach
Joined: 17 May 2010
Posts: 1
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| Posted: Mon May 17, 2010 4:32 am Post subject: Re: Reverse Mortgage-What is it? |
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Interested in Guest Post please email me:andrewslewis023@gmail.com
I can assure the visitors must appreciate my post :) |
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