Reverse Mortgage Whiteboard Example

Reverse Mortgage   Whiteboard Example

you've heard that your home is one of your greatest assets but if you're 62 years old or older and still making mortgage payments that monthly payment may feel more like a burden what if there was a simple solution a program that would eliminate that monthly payment and give you access to your equity tax-free and without anything to pay back for as long as you or your spouse occupy your home can you see how this would be an amazing solution it's called a reverse mortgage and most people overcomplicate it it's simply a loan that you don't pay back for as long as you live in your home but you've heard rumors from friends or acquaintances that reverse mortgages are bad that the bank can take away your home or that there is no equity left for your kids or that if one spouse dies the other has to leave these are simply not true they're what we call myths myths are often created by well-meaning people who have outdated or inaccurate information kind of like a teacher with a textbook from the 1400s telling her students the world is flat it's just not true or like unicorns unfortunately a lot of bad old and downright wrong information has been spread about reverse mortgages although some of those myths mentioned above may have been true at one time since Ronald Reagan signed this FHA backed program in July 1988 major improvements have occurred even as recently as August 2014 this educational website was created to provide senior homeowners a clear and factual picture of today's government backed reverse mortgage program don't let an old wives tale or myth stop you from enjoying the life you deserve learn the facts about today's reverse mortgage program you'll see a video of me on the right side of this page I'll be happy to walk you through the site and point out the areas you'll want to pay special attention to let's get started now you

6 thoughts on “Reverse Mortgage Whiteboard Example

  1. Sure – the rise in reverse mortgage lending in the past decade is clearly because financial institutions have the best interest of seniors at heart… not their bottom line. No such thing as a free lunch folks – reverse mortgages are advertised so strongly because they're highly lucrative for the lenders **AT THE EXPENSE OF THE HOMEOWNER**.

  2. This guy literally calls facts outdated and unicorns

  3. Guys, there is a 14% fail rate and this rate has increased since 2008! You can not run away from paying your mortgage…..there is no such thing as free money

  4. I want to know who you are so I can exploit just how stupid you are

  5. Stephen… you are so so wrong and totally uninformed.

  6. Reverse Mortgages are JUNK.* The bank WILL make payments to the home owner(s).* If you or your spouse do not occupy the house for an extended period of time, maybe 6 months, you will lose the property to the bank. ***The bank will foreclose and you will have no home to return to. ***This means that regardless of the circumstances you will be homeless.***You cannot pass your house, as part of your estate, to your children. In REALITY you do not own it.***Your are simply living in the BANKS PROPERTY.***The money they give you is considerably less than the value of the house unless you live in the house for, at least, 30 years.***Forget any other reasons you may have to make this decision such as bills, vacation, new car, food. The are a money management problem and will not be solved by selling your home to the bank at a discount. YOU WILL BECOME A GLORIFIED RENTER. YOU WILL OWN NOTHING. YOU CANNOT PASS IT TO YOUR FAMILY.

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