Comments on: Real Estate Role Reversal: With reverse mortgage, lender pays homeowner http://queercents.com/2008/12/02/real-estate-role-reversal-with-reverse-mortgage-lender-pays-homeowner/ We're here, We're queer, and We're not going Shopping without Coupons Wed, 10 Mar 2010 04:23:21 -0700 http://wordpress.org/?v=2.9.1 hourly 1 By: HECM Program for Seniors Downsizing - Mortgage Rate News http://queercents.com/2008/12/02/real-estate-role-reversal-with-reverse-mortgage-lender-pays-homeowner/comment-page-1/#comment-196148 HECM Program for Seniors Downsizing - Mortgage Rate News Wed, 11 Mar 2009 14:56:55 +0000 http://www.queercents.com/?p=4952#comment-196148 [...] Real Estate Role Reversal: With reverse mortgage, lender pays homeowner (queercents.com) [...]<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-196148">0</span> <small>(to vote for this comment, please visit the site)</small></p> [...] Real Estate Role Reversal: With reverse mortgage, lender pays homeowner (queercents.com) [...]

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]]> By: San Francisco Financial Planning http://queercents.com/2008/12/02/real-estate-role-reversal-with-reverse-mortgage-lender-pays-homeowner/comment-page-1/#comment-177013 San Francisco Financial Planning Wed, 03 Dec 2008 17:56:28 +0000 http://www.queercents.com/?p=4952#comment-177013 Great advice on dealing with reverse mortgages. Also good advice in suggesting discussing with a certified financial planner before you enter in major financial decisions, such as a reverse mortgage. Try to find a planner who is at about your same life stage so that they have a good understanding of where you are and where you want to be.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-177013">0</span> <small>(to vote for this comment, please visit the site)</small></p> Great advice on dealing with reverse mortgages. Also good advice in suggesting discussing with a certified financial planner before you enter in major financial decisions, such as a reverse mortgage. Try to find a planner who is at about your same life stage so that they have a good understanding of where you are and where you want to be.

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]]> By: David http://queercents.com/2008/12/02/real-estate-role-reversal-with-reverse-mortgage-lender-pays-homeowner/comment-page-1/#comment-176745 David Tue, 02 Dec 2008 19:46:30 +0000 http://www.queercents.com/?p=4952#comment-176745 I was actually researching about reverse mortgages the other day as I was curious as to how they worked. Then I found out that you had to be over 62 but still might be a good thing when the time comes as I don't have to worry about leaving a legacy and it might allow for more post work fun. I thought your post was great, though I thought my bank, who have handled my mortgage great had a great section too. http://www.independentbank.com/reversemortgage<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-176745">0</span> <small>(to vote for this comment, please visit the site)</small></p> I was actually researching about reverse mortgages the other day as I was curious as to how they worked. Then I found out that you had to be over 62 but still might be a good thing when the time comes as I don’t have to worry about leaving a legacy and it might allow for more post work fun. I thought your post was great, though I thought my bank, who have handled my mortgage great had a great section too. http://www.independentbank.com/reversemortgage

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]]> By: PennySeeds.com http://queercents.com/2008/12/02/real-estate-role-reversal-with-reverse-mortgage-lender-pays-homeowner/comment-page-1/#comment-176687 PennySeeds.com Tue, 02 Dec 2008 15:39:34 +0000 http://www.queercents.com/?p=4952#comment-176687 Seems like a nice plan, but I'm very wary of any offer from a financial institution that offers 'easy money'. Especially to senior citizens, because honestly most of them are far too trusting with their money for some reason. My grandma would believe anything a person with a name tag told her. It was a full time job keeping from getting taken for a ride sometimes! I know all too well that they have oodles of lawyers making tiny 'insignificant' clauses in contracts that may present big problems later on. By the way - I love your slogan. Don't worry - My mom wouldn't go shopping without coupons either. : )<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-176687">0</span> <small>(to vote for this comment, please visit the site)</small></p> Seems like a nice plan, but I’m very wary of any offer from a financial institution that offers ‘easy money’. Especially to senior citizens, because honestly most of them are far too trusting with their money for some reason.

My grandma would believe anything a person with a name tag told her. It was a full time job keeping from getting taken for a ride sometimes!

I know all too well that they have oodles of lawyers making tiny ‘insignificant’ clauses in contracts that may present big problems later on.

By the way – I love your slogan. Don’t worry – My mom wouldn’t go shopping without coupons either. : )

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]]> By: Rebecca http://queercents.com/2008/12/02/real-estate-role-reversal-with-reverse-mortgage-lender-pays-homeowner/comment-page-1/#comment-176684 Rebecca Tue, 02 Dec 2008 15:25:43 +0000 http://www.queercents.com/?p=4952#comment-176684 This post really grabbed my attention, since I just yesterday began the steps of obtaining a reverse mortgage for my mother. A couple of things worth mentioning, perhaps, is that the first funds of any reverse mortgage will go to pay off any mortgage remaining on the home. Like many seniors, my mother's home is completely paid off, but that may not be the case for everyone and it should be noted. Second, I'm not sure if this is required everywhere, but my mother is required to go through a credit counseling session for a fee of $125 before her lender will even take her application. I'm hoping these loans won't be too affected by the current credit crunch, because they are an excellent answer to the problem of many seniors. Great post!<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-176684">0</span> <small>(to vote for this comment, please visit the site)</small></p> This post really grabbed my attention, since I just yesterday began the steps of obtaining a reverse mortgage for my mother. A couple of things worth mentioning, perhaps, is that the first funds of any reverse mortgage will go to pay off any mortgage remaining on the home. Like many seniors, my mother’s home is completely paid off, but that may not be the case for everyone and it should be noted.

Second, I’m not sure if this is required everywhere, but my mother is required to go through a credit counseling session for a fee of $125 before her lender will even take her application.

I’m hoping these loans won’t be too affected by the current credit crunch, because they are an excellent answer to the problem of many seniors. Great post!

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