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Comment from our reader: The reverse mortgage is a scam! I am a banker and I see every day deceived elderly customers who get fooled by these "reverse mortgages", they end up losing everything and put their heirs in jeopardy. - Tim I've been a mortgage banker for over 40 years and during that time I have worked... Read Full Article
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A browser Sarah has sent the following question to ASK ARLO! My mother and I were listed as Trustees on deed and title of the home she was living in. I was named executor of her irrevocable trust. The house was paid in full, but she had an equity loan and medical bills for approximately $27,000. She told me... Read Full Article
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We just received this comment to our blog: It boils down to the saying “if it’s too good to be true, then it is “I watched this actor named Tom Selleck pitching for reverse mortgage on a tv commercial. Sounds very convincing even to the point of him swearing to have done his homework on the matter and telling... Read Full Article
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The plain and simple answer is a little bit, but not really. Dave Ramsey does a hit piece on reverse mortgages in which he does point out some of the less popular aspects of reverse mortgages, but he has no problems either exaggerating or just shows his ignorance about the product. Souce: https://www.daveramsey.com/blog/how-reverse-mortgages-work Is Dave Right About Reverse... Read Full Article
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Downright Despicable (and illegal) Advertising Every once in a while we run into advertising that we feel is somewhat misleading or questionable. Then there are times we see things that are downright misleading and illegal and we feel we should bring those to people’s attention so that borrower’s and their families will not fall prey to bad actors. I was... Read Full Article