A question that comes up often is costs associated with the sale of the home vs. staying with the help of a reverse mortgage.
Besides discussing that question, Tom Elder over on activerain.com gives a good lesson on the servicing set aside associated with HECM reverse mortgages.
He concludes by saying that - with respect to reverse mortgages - he "would much rather have them talk to people who truly understand the benefits and the pitfalls of these loans so that they get the right loan, the first time every time. "
Well said, Tom!
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Reverse Mortgages are not for everyone. Be sure you are getting the right loan, the first time, every time! Toll free in Michigan: 877-308-1489.
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