pros and cons Archive

Reverse Mortgage Disadvantages
March 27, 2012
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Reverse Mortgage Disadvantages

A reverse mortgage can be an extremely beneficial retirement tool for people who are 62 and older and want to tap into a portion of the equity in their home as a way to achieve financial security. As long as you have enough equity in your home, it is not difficult to qualify for a […]

Other Reverse Mortgage Options and Financial Options
December 10, 2011
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Other Reverse Mortgage Options and Financial Options

In the current economic climate if you are an older homeowner having problems paying bills you may think your choices are limited. However there are a number of options available which can provide financial relief and peace of mind. Of course there is the reverse mortgage option which is what this site specializes in discussing […]

Importance of Reverse Mortgage Counselors
August 9, 2011
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Importance of Reverse Mortgage Counselors

There is a vast amount of information available on reverse mortgages. When making a decision as big as this one, it is no wonder that many people do their homework. Researching reverse mortgages is good preparation for a required HECM counseling appointment.  FHA funds housing counseling agencies nationwide to provide borrowers with information on reverse […]

Despite Banks Abandoning The Sale Of Reverse Mortgages They Are Still A Viable Option
July 1, 2011
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Despite Banks Abandoning The Sale Of Reverse Mortgages They Are Still A Viable Option

Within less than a year both Bank of America and now Wells Fargo have exited reverse mortgage market.  The reasons for the departures may have more to do with infrastructure set-ups, being able to achieve profitability, and getting in compliance with changing regulations from the Department of Housing and Urban Development (HUD) than with the product […]

Reverse Mortgage News – Wells Fargo and Bank of America Exit
June 17, 2011
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Reverse Mortgage News – Wells Fargo and Bank of America Exit

Wells Fargo announced yesterday that they are exiting the reverse mortgage business, after more than 20 years of offering reverse mortgages.  While it may not have been the shot heard around the world, it is interesting that Wells Fargo is not alone.  Bank of America announced their exit from the reverse mortgage business in February […]