Think twice before you get a reverse mortgage

Think twice before you get a reverse mortgage,

Local banks and mortgage companies are pushing a unique mortgage loan that sounds more like you just won the lottery.Instead of making monthly payments, you receive monthly payments and you don’t have to pay it back until you sell you home. It’s called a reverse mortgage.

But proceed with caution.

Reverse mortgages have been around for some time, but they’re being heavily market right now, in part because of all the long-time homeowners who are sitting on a gold mine in equity.

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Full post here Reverse Mortgage Loan Blog

Written by News & Feeds on September 14th, 2007 with comments disabled.
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