Reverse mortgage as a borrowing option

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11-20-2013, 04:44 PM

#41

Debbie C

Super Member

Join Date: Feb 2011

Location: Carlisle, PA

Posts: 1,964

Please stay clear of reverse mortgages...the only one who makes out is the bank!!!

11-20-2013, 08:51 PM

#42

Melinda in Tulsa

Super Member

Join Date: Dec 2008

Location: Tulsa, Oklahoma

Posts: 4,413

Quote:

Originally Posted by marla

I've seen the guy who they use from the ads. I can't remember his name but probably is his only income--low grade actor. He doesn't care cuz he gets big bucks for doing the ad. Just show you his true character.

LOL, I believe the "low grade actor" you are referring to is Fred Thompson. Former long time Congressman from Tennessee, turned actor. Starred on Law and Order for many years. Has a good resume as an actor. Perfect job for a politician! Lying/acting comes very natural to them! LMAO! 😝😝😝😝😝

11-20-2013, 10:47 PM

#43

cricket_iscute

Senior Member

Join Date: Jan 2010

Location: New England

Posts: 865

My banker warned me against Reverse Mortgages. He is a loan officer with Bank of America, and said they no longer carry RMs. He said there are a lot of things hidden in the small print and that, with many of the companies and banks out there doing RMs, there are problems and some are ethical problems.

11-21-2013, 07:13 AM

#44

nativetexan

Power Poster

Join Date: Feb 2009

Location: home again, after 27 yrs!

Posts: 19,388

I just wish the 102 year old gentleman who just sold one coin from his coin collection for 2 million dollars would put me in his Will. he doesn't need an RM.