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There are several closing costs borrowers are required to finance when getting a reverse mortgage. What many people don’t know is that some of the costs vary by lender and the area in which the borrower lives. It is in your best interest to shop around and compare prices when considering a reverse mortgage. Some of the most common variable... Read Full Article
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Overcoming Objections to Reverse Mortgage High Fees. Compared to alternatives. Read about home equity conversion mortgages (HECMs), and read about those who object to them—often citing high fees and risks to tapping home equity. Like other financial products, reverse mortgages come with certain borrowing costs. But, by understanding how these costs break down, you may discover that a HECM actually could... Read Full Article
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All Reverse Mortgage® is an Award-Winning HUD Approved Direct Lender. Compare our NEW $0 Orig. Fee Plans and Save Thousands! - Calculate Your Loan Now - My sisters and I are helping our oldest sister. She's a 66-year old widow and is suffering from early dementia. She has a large financial obligation with the IRS and lives solely on her Social Security income.... Read Full Article
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So, you’re thinking about a reverse mortgage. You’ve done your research, you know it’s the right loan for you but you’ve talked to a few family members and friends who may have already gotten one or knows someone who has and you’re concerned about the high costs you’ve been hearing about. Being the smart consumer that you are though, has... Read Full Article
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It is true that just about all reverse mortgages being originated at this time are the HUD Home Equity Conversion Mortgages (HECM or "Heck-um"). So many people think that the reverse mortgage fees and the rates are all going to be about the same. However, this is not always true and those borrowers who take the time to compare have... Read Full Article