Michael Pinter's Reverse Mortgage Blog

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Mortgage and Lending - First Meridian Mortgage
Everything you ever wanted to know about Reverse Mortgages.

ARCHIVED BLOG POSTS

2008 

Generation Mortgage came out with a list of "unsuitable" and "suitable" financial products that can be sold to Reverse Mortgage borrowers. My opinion is that there are NO suitable financial products that should be "sold" to a Reverse Mortgage borrower.  The Reverse Mortgage borrower should be be ...
03/26/2008
I am still getting dozens of people weekly who tell me that they "don't like" Reverse Mortgages or that they know someone who "got really taken" by a Reverse Mortgage loan officer or they read something or heard something that said that Reverse Mortgages are no good.  I need to be clear here: Rev...
03/24/2008
I was just reading an article in Mortgage Servicing News entitled "MBA Forecasts 1.8 Million foreclosures in 2008." Keep in mind that this is only a prediction and it is coming from economists who work for the Mortgage Bankers Association. Also, there were already 1.5 million foreclosures in 2007...
03/20/2008
The second biggest complaint (the closing costs are the first) is that the equity in the home will be depleted over time. This is correct, there is no denying that if you take a big balance on your Reverse Mortgage and keep it for a long time, the balance will grow and compound and could deplete ...
03/11/2008
In response to the feedback that I've been gettiing, I will make shorter postings. The biggest complaint I get about Reverse Mortgage is the amount of the closing costs. See my earlier post on why Reverse Mortgages are still worth it but briefly a few of my thoughts on the subject: 1) The costs a...
03/10/2008
There has been so much negative press about Reverse Mortgages lately. Most of it comes form a few mortgage brokers that are selling people deferred anuities with Reverse Mortgages. In my opinion anyone who sells a senior a deferred annuity should be beheaded or at leat put into prison. Unfortunat...
03/04/2008
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Michael Pinter

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Everything you ever wanted to know about Reverse Mortgages.