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<blockquote data-quote="poopgiggle" data-source="post: 1328089" data-attributes="member: 6406">Please explain to me how having a lien put on your house isn&#039;t losing equity.I&#039;m beginning to sense that you don&#039;t know what &quot;equity&quot; means, which is sort of frightening since you&#039;re advising elderly people on their financial future.EDIT: OK, here&#039;s the definition of &quot;home equity&quot; from Wikipedia, which allows me to illustrate my point wellSooo... Equity = FMV - Liens. How does increasing Liens not decrease Equity, unless your reverse mortgage increases the fair market value of the home? (Hint: it doesn&#039;t)I can write out an algebraic proof if you&#039;d like.No I meant it&#039;s hilarious that you&#039;re comparing a low, straightforward rate for a single service to ongoing fees and compounding interest associated with a reverse mortgage.</blockquote>

[QUOTE="poopgiggle, post: 1328089, member: 6406"] Please explain to me how having a lien put on your house isn't losing equity. I'm beginning to sense that you don't know what "equity" means, which is sort of frightening since you're advising elderly people on their financial future. EDIT: OK, here's the definition of "home equity" from Wikipedia, which allows me to illustrate my point well Sooo... Equity = FMV - Liens. How does increasing Liens not decrease Equity, unless your reverse mortgage increases the fair market value of the home? (Hint: it doesn't) I can write out an algebraic proof if you'd like. No I meant it's hilarious that you're comparing a low, straightforward rate for a single service to ongoing fees and compounding interest associated with a reverse mortgage. [/QUOTE]

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