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Reverse mortgage scams occur when outside people try to charge a large some of money for free information. An example would be those people who try to charge for the listing of HUD homes and information when this information is available for free.
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∙ 12y ago
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What exactly are reverse mortgage leads?
"Reverse mortgage leads are people who need to refinance their mortgages. Companies get this information, and then sell these peoples numbers to banks that do mortgages."
Where can I find information about reverse mortgage fl?
Go to www.floridareversemortgage.com. This site explains both the pros and cons of a reverse mortgage and exactly what it is. This site also has a calculator and assistance number you can call.
Do you still have to pay monthly mortgage if you have a reverse mortgage?
No, the purpose of a reverse mortgage mortgage is to eliminate mortgage payments permanently.
What is a reverse mortgage lead?
A reverse mortgage lead is where you can get names of people that are interested in getting a reverse mortgage. These leads should already have been screened to meet the criteria for a reverse mortgage.
What are the reverse mortgage scams taking place today?
Yes, there are reverse mortgage scams, as well as regular mortgage scams. You need to be careful who does your reverse mortgage, so you do not get scammed
What is reverse equity mortgage?
a reverse equity mortgage usually refers to a reverse mortgage, also referred to as a HECM loan. (Home Equity Conversion Loan). The key difference between a regular mortgage and a reverse mortgage is that no monthly mortgage payments are due on a reverse mortgage. A reverse mortgage also does not have credit or income requirements because there are no payments due. Qualification is based on age- minimum age 62- the value of the home and its location.
What is new reverse mortgage and where can I learn about it?
You can not get a reverse mortgage if you already have a reverse mortgage in exsistence. If you do not have one you can go to a few places for help such as; rvmortgage.com and allrmc.com
Reverse Mortgage Calculator?
Reverse Mortgage Calculator Use this calculator to help determine the balance of a reverse mortgage. This calculator is specifically designed to show you how the outstanding balance of a reverse mortgage can rapidly grow over a period of time.
What is American reverse mortgage?
American reverse mortgage is when you borrow money based on the value of your house. A reverse mortgage has the option of being a lump sum or installments.
Where can you find a reverse mortgage calculator?
Reverse mortgage calculators can be found on line on most mortgage websites.There are hundreds of mortgage loan sites.& This calculator makes it easier to understand the reverse mortgage math and to let you see if this type of mortgage is best for you.
Where can I learn about liberty reverse mortgage?
You can learn about liberty reverse mortgage from any local tax consultant or by finding it on a website which deals specifically with liberty reverse mortgage.
What is a reverse mortgage exactly?
A reverse mortgage is a method for a homeowner with equity in real estate to create income without selling the entire property. The reverse mortgage company makes fixed payments over a period of time to a homeowner in exchange for ownership of the property at the end of the arrangement.
