Comments on: Know the facts about reverse mortgages http://reversemortgageloanblog.com/2007/10/05/know-the-facts-about-reverse-mortgages/ News and discussion about Reverse Mortgages Sat, 30 Apr 2011 21:05:04 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: Brian Nadig http://reversemortgageloanblog.com/2007/10/05/know-the-facts-about-reverse-mortgages/comment-page-1/#comment-312 Brian Nadig Sun, 07 Oct 2007 19:57:44 +0000 http://reversemortgageloanblog.com/2007/10/05/know-the-facts-about-reverse-mortgages/#comment-312 The Reverse Mortgage is the greatest scam perpetrated on America’s Seniors since Congress began taxing Social Security Benefits. After 10 years, the cost of the loan, e.g. interest and closing costs, could easily equaleven or surpass 90 percent of the loan value. The initial cost of a reverse mortgage could be as much as $30000 depending upon loan value and lender. The only real beneficiaries of reverse mortgages are the lenders. The Reverse Mortgage is the greatest scam perpetrated on America’s Seniors since Congress began taxing Social Security Benefits. After 10 years, the cost of the loan, e.g. interest and closing costs, could easily equaleven or surpass 90 percent of the loan value. The initial cost of a reverse mortgage could be as much as $30000 depending upon loan value and lender.

The only real beneficiaries of reverse mortgages are the lenders.

]]> By: Chuck Helsel http://reversemortgageloanblog.com/2007/10/05/know-the-facts-about-reverse-mortgages/comment-page-1/#comment-305 Chuck Helsel Sat, 06 Oct 2007 04:19:46 +0000 http://reversemortgageloanblog.com/2007/10/05/know-the-facts-about-reverse-mortgages/#comment-305 Great advice on Reverse Mortgages. Senior Homeowners beware when choosing a mortgage advisor! Reverse Mortgages are going to be the next hot mortgage product for loan orginators looking for business. The saving grace is in order to get a Reverse Mortgage, a senior is required to complete a counseling course. If you think a Reverse Mortgage may meet your mortgage needs: 1. Read up on Reverse Mortgages. There are many available free booklets and guides. 2. Find a lender that specializes in Reverse Mortgage. Make sure they can answer your questions in simple terms. Ask for references of other clients that they provided Reverse Mortgages for. 3. Do not respond to unsoliciated phone calls or mailers about reverse mortgages. You deserve working with a pro! 4. Determine if you want to involve your children. They care about your financial well-being and also need to understand the pro's and con's of a reverse mortgage. Chuck Helsel CalPacific Mortgage Consultants 858-657-1054 Great advice on Reverse Mortgages. Senior Homeowners beware when choosing a mortgage advisor! Reverse Mortgages are going to be the next hot mortgage product for loan orginators looking for business.

The saving grace is in order to get a Reverse Mortgage, a senior is required to complete a counseling course.

If you think a Reverse Mortgage may meet your mortgage needs:
1. Read up on Reverse Mortgages. There are many available free booklets and guides.
2. Find a lender that specializes in Reverse Mortgage. Make sure they can answer your questions in simple terms. Ask for references of other clients that they provided Reverse Mortgages for.
3. Do not respond to unsoliciated phone calls or mailers about reverse mortgages. You deserve working with a pro!
4. Determine if you want to involve your children. They care about your financial well-being and also need to understand the pro’s and con’s of a reverse mortgage.

Chuck Helsel
CalPacific Mortgage Consultants
858-657-1054

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