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The Water Cooler
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Reverse Mortgages
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<blockquote data-quote="Glocktogo" data-source="post: 1328288" data-attributes="member: 1132"><p>Why so pricey?</p><p></p><p>Also, payments are always required on a mortgage, they're just being made by the RM, correct? So, are they paying the mortgage AND sending the homeowner a check? Or do they only do RM's on homes without a current mortgage? If so, does the homeowner get to charge the RM interest? No? </p><p></p><p>Seems like a scam to me. <img src="/images/smilies/anyone.gif" class="smilie" loading="lazy" alt=":anyone:" title="Anyone :anyone:" data-shortname=":anyone:" /></p><p></p><p>Instead of just talking pie in the sky benefits, why not discuss the ups AND downs of a RM? Concrete information usually works better to convince people than vague notions of benefit.</p></blockquote><p></p>
[QUOTE="Glocktogo, post: 1328288, member: 1132"] Why so pricey? Also, payments are always required on a mortgage, they're just being made by the RM, correct? So, are they paying the mortgage AND sending the homeowner a check? Or do they only do RM's on homes without a current mortgage? If so, does the homeowner get to charge the RM interest? No? Seems like a scam to me. :anyone: Instead of just talking pie in the sky benefits, why not discuss the ups AND downs of a RM? Concrete information usually works better to convince people than vague notions of benefit. [/QUOTE]
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