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<blockquote data-quote="Glocktogo" data-source="post: 1328180" data-attributes="member: 1132">So do you do reverse mortgages with no fees, or low fees where the buyer (broker) pays mortgage fees just like a regular house buyer would? I guess my question is, how does the reverse mortgage broker get rich? Off the sale of the home when they finally take possession of it? Or off the fees they charge the elderly/terminally ill person?Seems like a legal scam to me. I understand the attractive nature of the scheme. Get money now, just like J.G. Wentworth gives you on your trust or annuity. But who really benefits the most here? The seller or the buyer? Somehow I envision that it&#039;s the buyer. I guess if I was terminally ill and had no heirs it might be worth the high price, but I&#039;m sure it wouldn&#039;t be a pleasant choice to make. <img src="/images/smilies/frown.png"&nbsp; class="smilie" loading="lazy" alt=":(" title="Frown&nbsp; &nbsp; :(" data-shortname=":(" /></blockquote>

[QUOTE="Glocktogo, post: 1328180, member: 1132"] So do you do reverse mortgages with no fees, or low fees where the buyer (broker) pays mortgage fees just like a regular house buyer would? I guess my question is, how does the reverse mortgage broker get rich? Off the sale of the home when they finally take possession of it? Or off the fees they charge the elderly/terminally ill person? Seems like a legal scam to me. I understand the attractive nature of the scheme. Get money now, just like J.G. Wentworth gives you on your trust or annuity. But who really benefits the most here? The seller or the buyer? Somehow I envision that it's the buyer. I guess if I was terminally ill and had no heirs it might be worth the high price, but I'm sure it wouldn't be a pleasant choice to make. :( [/QUOTE]

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