Dangers of Reverse Mortgages

[REXAgreeement]

Thanks for the information.

[managerofwealth]

One question: Are reverse mortgages safe and a wise way to go to increase cash flow?

[jerktrucker]

Q: if I dont have enough income to get a loan to repar a house how will i repay the reverse mortage?

A: the bank will gladly own the house 4 me

[bigsis2d]

we need help with getting a lender for reverse mortgage

[Chuichupachichi]

That's only the standard, generic, cover up story as authored by the crook, banker oligarchs who devalued the dollar, thus, also retirement accounts & intentionally created evermore expensive health care with less & less coverage & caused the financial hardships which make it possible for them to rob you of your house after you've been paying the mortgage to them for years.

[Chuichupachichi]

"Reverse"? That appropriately enough, sounds "Backwards Ass Satanic". Its their calling card. Do you need to read the reverse mortgage contract by looking at its reflection in the mirror?

You should make a video explaining

[mathterbator]

@Chuichupachichi I'm not exactly sure what you're saying  O_o

[Chuichupachichi]

make another video that explains how the current economic disaster was caused by the bankers' treacherous practices with which they sucked up the nations assets. Which in turn, caused their own supposed failure which required the freshly robbed public's trillions of bail out dollars & in turn, is the reason why no homeowner should still be required to pay their mortgages to the same bankers. Since the robbery & the bail out amounts to enough that citizens should have a paid in full 2nd home

[ARCInnovate]

Call 1-800-991-4613 for a full tutorial! Legacy Reverse Mortgage - personal service!

[zcefaratti]

Due to exciting new market dynamics, as of March 31st Golden Gateway is able to offer fixed rate reverse mortgages with NO ORIGINATION FEE and NO MONTHLY SERVICE FEE at very low interest rates! Call 800 643 7560 about these amazing offers.

[imperfectionKillz]

Win-Win situation in some cases.

[davis470909]

The loan is called a Home equity Conversion mortgage. It is a non-recourse loan and your only obligation to sell the home is at current market value of the home. That is no upside down condition. Why should your 70 yr old parents eat dog food so that their 50 yr old kids inherit the home and sell it, spend the proceeds.Parents you will eliminate any future payments except home owners insurance and property taxes. Put that $1200 payment in a savings account or Annuity plan.+

[troosyreen]

this guy sounds like napoleon dynamite.

[dobi2004]

They charge a fee to set up the mortgage

Every month a interest debt builds up

the balance of the LOAN is applied against the value of the property. You may end up owing more than the house is worth. When you sell the house, if you can't sell it for more than the loan you have to make up the difference.

[pavillion14]

Of course they make it sound so good....they make a lot of money on this. How about a reverse mortgage 1st & 2nd all adjustable rate on one house. Oh the kids don't get the house if the borr dies the mortgage company over rides the will....

[michaelmlt]

So, what are the dangers? I saw nothing indicating the dangers.