Facing the Mortgage Crisis | KETC | Reverse Mortgages

[wpbryant]

What? Scam?

Who is this guy and what makes him any sort of expert on mortgages? It's a program supported by AARP, would AARP support a scam? I don't understand how this guy got major airtime with this... And I don't get how a reverse mortgage is the same as a contractor fixing your roof. He obviously knows nothing about mortgages and especially reverse mortgages.

[BlacksAreBeautiful]

actually, he never said this was a scam, he was saying that seniors in general are easy prey for SCAMS....not that this is a scam specifically..

[wpbryant]

So he talks for a full minute about scams and talking about reverse mortgages says "these scam artists" no he doesn't say verbatim this is a scam, but he scared the heck outta me wanting a reverse mortgage!

[BlacksAreBeautiful]

well, i understand your apprehension, and quite honestly, i think there is probably something shady behind them..the point is though, this particular gentlemen never claimed there is scam involved with reverse mortgages..

[wpbryant]

Okay, he didn't "claim point blank" but you can't deny the clear finger pointing to it. Regardless. The point's kinda moot. You can't say after listening to that interview you would feel okay doing a reverse mortgage, regardless of whether it's a scam or not.

[BlacksAreBeautiful]

Sir, the point he was making was "seniors are typically preyed upon by scam artists"... To be honest with you, Mortgages period are scams, so I'm not sure why you think a reverse mortgage is worse than your regular mortgage...

[wpbryant]

All right, I think we know already from that comment where you stand with the issue and why it's pointless to discuss it.