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Ambassador
2,759,387
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 I do not think that reverse mortgages are any good except for the mortgage company.

Apr 17, 2015 06:49 PM
Rainmaker
1,624,272
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

They should be the last option on the list of solutions.

Apr 18, 2015 01:12 AM
Rainmaker
1,445,027
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Sharon Parisi Anyone who wishes to go with a reverse mortgage should read between the lines. There is more to it than meets the eye.

Apr 17, 2015 10:43 PM
Rainmaker
869,241
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

There's only one.

DON'T CHANGE YOUR MIND.

Apr 17, 2015 09:51 PM
Rainmaker
2,410,491
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Sharon. We talk many folks out of doing a reverse mortgage, as it is not in their best interest, unfortunately many think it is a good idea and just don't know why.

Make it a great weekend!

Apr 17, 2015 09:07 PM
Rainmaker
4,799,356
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

High fees and difficulty passing the home on to your heirs.

Oct 09, 2018 06:44 AM
Rainmaker
629,951
Ajay Pandya
e-Merge Real Estate - Columbus, OH
Realtor Ajay Pandya

Checking other answers.

Apr 23, 2018 09:59 PM
Rainmaker
1,510,363
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Sometimes, a homeowner needs help with manging their delinquent property expenses. There expenses include property taxes and homeowner's insurance, as well as up to 12 months of additional assistance for future property expenses. 

Dec 30, 2017 07:26 PM
Rainmaker
3,069,684
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Norm nailed this one!

Sep 24, 2017 04:53 AM
Ambassador
1,565,445
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

I know someone who did a reverse mortgage and now has found she is totally screwed.  

Apr 18, 2015 01:41 AM
Rainer
6,257
Janet & Graham Ford
McGraw Realtors - Tulsa, OK
Tulsa Real Estate

None if you need the funds to survive, have no other income, need to pay medical & feed yourself etc., and do not intend to pass on your home to any heirs. If it is all yours and you need it, use it. It needs to be in the best interest of the homeowner, not the lender, agent or any other interested party. That said there may be other options for the homeowner to consider, or it may be the only option. All cases are specific to the individual.

Apr 18, 2015 01:20 AM