As a short term financing tool, reverse mortgages are an expensive proposition. However when used long-term, those expenses are spread throughout the life of the loan, making a reverse mortgage a viable solution to supplement retirement income, pay off a mortgage and have extra cash available to enjoy life to the fullest without the worry of mortgage payments. So, what costs are involved and why do the fees seem so high? (more…)

Picture this… you’re a senior homeowner and nearly every time you go to your mail box, you get 1-5 solicitations for a reverse mortgage. You keep all the postcards and letters handy in case you decide to make a decision to proceed with a reverse mortgage. You’re starting to learn a lot about the program just from all the direct mail pieces you have received. Your phone is starting to ring almost daily with reverse mortgage telemarketers. You hear the buzz on the news and with your friends that reverse mortgages have created. You see TV commercials with Robert Wagner, James Gardner, and Pat Boone among many others. You now have a stack of solicitations higher than three Los Angeles phone books and your interest has peaked. You know you want to start to look into a reverse mortgage but you don’t know what steps are involved or how to you proceed with a reputable company? Yes you do have hundreds of mail pieces, but what company will truly offer you the best service and best fee structure. (more…)