saveurhomeplease (November 30, 1999 at 12:00 am)

We Can Help You Save Your Home From Foreclosure Go To homesaver(DOT)tk

mannyfeseha (November 30, 1999 at 12:00 am)

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DrewDownsManagement (November 30, 1999 at 12:00 am)

Very informative video. I took some notes on the video and how it was done. I gave it 5 stars. Check out our vids and tell me what you think? We have some good stuff also.

Millardray (November 30, 1999 at 12:00 am)

This is aall true with one exception. You can be in the nursing home about 6 months before your loan is called. Yes about $14K in closing costs plus $30 month in services fees and $62 month for FHA Mortgage insurance on $151K loan. Expensive. But some golks don't have better options.

Millardray (November 30, 1999 at 12:00 am)

HOOLOHA - You sent email stating you think there is more to story about lender calling loan if borrower goes into bankruptcy. I guarantee you that if you contact HUD they will tell you that HUD REQUIRES the lender to call the loan. I have spoken to many, many different counselling services and with HUD officials, and this is what they tell me. It is in every Reverse Mortgage Contract. I wish to GOD you could prove otherwise, as I am worried sick about this.

HOOLOHA (November 30, 1999 at 12:00 am)

There is more to the story, it is not as simple as the way you have described it. Reverse Mortgage is regulated by HUD, and goal of Reverse Mortgage is to provide supplemental incomes and financial needs for Senior Homeowners. If you know more about the story, please share with us. This is an interesting topic.

palsimon614 (November 30, 1999 at 12:00 am)

Doomstay Scenario none of the lenders or HUD tell you about: If you go into bankruptcy because you cannot pay your credit card debts, FHA terms require the lender to call your loan. I don't know what happens then? Terrible possibilities here.

HOOLOHA (November 30, 1999 at 12:00 am)

Dear GNB,Reverse Mortgage is a mortgage. The Lender is not offered to buy your home; the lender offered to lend you the money. You still remain on the title, and you have all rights and privileges as a homeowner. There are four different closing cost.1. Monthly Servicing Fee (25-35)normaly $30Servicing & Providing Loan Status (current balance.2. Mortgage Insurance Premium(MIP)Paid direct to FHA to insured the mortgage3. Loan Origination Fee: 4. Other Closing Cost:Appraisal, Title...

HOOLOHA (November 30, 1999 at 12:00 am)

Continues(GNB)Incase you get sick and have to go to a nursing home mortgage is not due right away. Unless you nolonger live in the home more than One Year then you have two options. 1. Sell the house payback the Reverse Mortgage 2. Have some one take over, Refinance under their name and payoff Reverse Mortgage. Lender would give you up to one year to exercise your options.Lender is not going after Senior Homeowners and forced them to payback their mortgages. No bank wants a bad name!!!

GrinNBarrett (November 30, 1999 at 12:00 am)

I asked the person that came to my home and explained it all. He said you must be living in your home for the length of the contract.Remember you have sold your home, else why closing costs?