Found 1 blog entry tagged as lending.

Are you considering a reverse mortgage? Do you know what a reverse mortgage is? Is it the same as refinancing? In the past decade reverse mortgages have gained in popularity, but we have also witnessed a rise in fraudulent and predatory practices within this industry. It has been pushed to seniors as a catch-all financial retirement product. However, it is important to understand that in reality it's a loan and when used to cover living, medical or other expenses you must understand that you are reducing the equity in your home. Applied without careful consideration, it can put your finances in a much worse position than other options that may be available to you. Let's explore the reverse mortgage and see if this is an option that makes sense for…

1242 Views, 0 Comments

Read Full Post