Archive for June 12th, 2008
Some say reverse mortgages are the way to go
Some say reverse mortgages are the way to go,
Delaware Online, 2008
Plan may be solution for older borrowers whose assets are dwindling, but experts say beware.
Jane DelSordo has been so happy with her reverse mortgage from WSFS Bank that she agreed to appear in the bank’s newspaper ads.
The
73-year-old, who paid cash for her Chadds Ford, Pa., [...]
From Kiplinger’s Personal Finance magazine, 2008
From Kiplinger’s Personal Finance magazine, Kiplinger, 2008
When you shop for a reverse mortgage, lenders must give you the total
annual loan cost (TALC), the equivalent of an annual percentage rate.
But this doesn’t reflect how your pattern of withdrawals will affect
your total cost or the equity when the loan ends.
AARP
has developed a model that lets [...]
Risk Management In Untested Waters: Many See Reverse Mortgages As The Next Big Loan Product
Risk Management In Untested Waters: Many See Reverse Mortgages As The Next Big Loan Product,
With America’s 78 million baby boomers just around the corner from retirement, the reverse-mortgage market is poised for explosive growth. But so is the market for risk management, because risk–particularly in the form of fraud–always “follows the money.” [??] Because seniors [...]
Get the Facts Before Choosing Reverse Mortgages
Get the Facts Before Choosing Reverse Mortgages,
With all the news about the housing crises, loan defaults and home foreclosures, borrowers are definitely becoming aware of the pitfalls of overextending themselves. I’m continuously receiving questions about the best way to approach a mortgage and how handling debt, particularly mortgage debt, fits into an overall financial plan.
One [...]
