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Reverse Mortages

How Much Does a Reverse Mortgage Cost?

Wednesday, February 13th, 2008

I just did a hypothetical reverse mortgage calculation using this calculator. For the calculation I used a birthdate for the husband of January 1, 1945 and June 25, 1945 for the wife. I also assumed the house was worth $200,000 and that there were no other loans on the property. Here’s the quote I got: […]

What Are Your Thoughts On Reverse Mortgages?

Wednesday, February 13th, 2008

Remember back in November when I posted Reverse Mortages: The Next Subprime Mess? Well, the March 2008 issue of Kiplinger’s has a similar article titled A New Mortgage Mess on the Way? Something to look out for: …as the industry grows, some see eerie parallels to the subprime mess roiling the country. Could reverse loans […]

Reverse Mortgages: The Next Subprime Mess?

Tuesday, November 13th, 2007

Read the following paragraphs from an article titled Reverse Mortgages: The Choices Expand ($) that was in today’s Wall Street Journal: In the past, the reverse-mortgage market has been constrained by having one main buyer, Fannie Mae. But a half-dozen investment banks, including units of Lehman Brothers Holdings Inc. and Bank of America, have started […]