Reverse Mortgages in Raleigh

Just heard a local bank advertising on the
radio for reverse mortgages. As a Raleigh mortgage lender,
this obviously got my attention.

The ad would be quite compelling to a senior
who needs cash flow. I was even impressed.

They mentioned Henry Winkler and Robert Wagner
to add further credibility. That’s a warm fuzzy!

Now, I know one person who said it saved
their Dad, but the other stories I’m reading
are not so positive.

There are too many variables to the loan.
Costs are extremely high between upfront mortgage
insurance, origination, and closing costs.

Raleigh Mortgage - Reverse Mortgages

My Prediction:

The nightmare stories will increase.

Reverse Mortgages will end up doing more harm
then good, just like the now banished “Option Arm”
with four payment choices.

(Saying that, I still have clients who will not
refinance their “Option ARM’s” because they
understand how they work,  the Libor Index
is so low, and their fully indexed rate is lower
then today’s fixed 30-year mortgage rates.).

Have you had experience with Reverse Mortgages?
Like to hear about it.

If you’re interested in a mortgage, get in touch
with a Raleigh mortgage lender like me today to find out how I can help you.

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