Discussion»Questions»Business» Riddle: Your rates can never be increased, your coverage never decreased and your plan can never be cancelled. What is it?
But people of that idiotic mind-set (The TRUMPIANS) will buy Alex.
I just spoke to someone at work about this. A client I was massaging. He remembered Tom Bosley, the spokesperson years ago for SMC. I worked there and I always mentioned Tom if I thought I had an old dinosaur on the phone. AND here is another TOM the right-wing worship. What a symbol of perfection. (See Blue Bloods) Ugh.
I wonder if I can get a reverse mortgage to pay off the $50,000 plus $600 a month interest I have now.
Selleck Says: A Reverse Mortgage Loan is a Simple Idea Really
If Tom helps me, I will turn RED and Republican as hell. I am not loyal.
On this point, some people might disagree. A reverse mortgage loan is like a mortgage — but in reverse. The details — like the fact that the loan amount grows because you are accumulating interest — can be tricky to understand.
Another point of confusion is that you have choices for how you take your loan amount and you don’t always have full access to that money.
Other details, like the fact that you will never owe more than the value of your home at the time the loan becomes due — no matter how much you have borrowed — can be confusing.
However, the benefits of the loan really do merit a careful understanding and walk through of your options. And, this is one of the reasons why one of the requirements of the loan is a session with a reverse mortgage counselor.
After you have chosen a lender, you will meet with a counselor. This session is designed to make sure that borrowers understand all of the details of reverse mortgages and their own financial situation.
So, reverse mortgages may not be a simple idea, but one worth investigating. Selleck Says: A Reverse Mortgage Turns Your Home Equity into Cash That You Pay Off When You Leave the House
This statement can be a little bit misleading. It is not incorrect, but not fully accurate either.
Yes, the loan turns your home equity into cash. However, the amount you are eligible to use can vary greatly depending on a number of complicated factors.
The most common misconception about reverse mortgages is that you are eligible to borrow all of your home equity or even the full value of your home. This is not true. You are only eligible to borrow a portion of your home equity.
And, you do not always get your full loan amount in cash. Your loan amount must first be used to pay off any balance of your traditional mortgage — if you have one. Remaining money can be accessed in cash, as a line of credit or as lifetime monthly payments.
Find out how much you are eligible for by using a reverse mortgage calculator. Selleck Says: The Loans Are Used to Pay Off Mortgages, Pay Bills, Pay Medical Bills and Make Updates to Your Home
These are indeed the most popular ways people use money from reverse mortgages.
If you have an existing mortgage, using a reverse mortgage to pay off that loan can have an incredibly positive impact on your monthly budget, even if you can not access additional money. Selleck Says: A Reverse Mortgage Can Give You Retirement Stability
The reverse mortgage industry is heavily regulated. These loans really are designed to give seniors retirement stability.
You must undergo a counseling session to secure a reverse mortgage as well as a financial assessment to determine whether or not the loan is a good fit for your future. So, How Truthful is Selleck on the Topic of Reverse Mortgages?
Pretty truthful indeed.
These commercials do a good job of introducing the reverse mortgage product.
However, the decision to secure the loan can be complicated and confusing. NewRetirement offers a Reverse Mortgage Suitability Calculator that assesses whether or not the loan is a good fit for you. So far over 300,000 people have used this tool.
For these people, the strongest reasons to secure a reverse mortgage are:
The desire for financial independence The wish to remain in their own home for the rest of their lives
Find out if a reverse mortgage is right for you.
This post was edited by WM BARR . =ABSOLUTE TRASH at September 18, 2017 12:05 PM MDT
LyricalOne 