Beijing China Girl asked:


if credit card debt over 40000 and person are 79 year old and now in the nursing home cannot walk and mot doing well’But she still own the house under the reverse mortgages.
Can the collector ‘s lawyer suit for the house?
the person live in FL

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Dana P asked:


I simply want the bank to pay off my 18k mortgage so that I can live the rest of my life without monthly payments, because I’m struggling financially. No payments would help me. I have about 150k in equity. I do plan on having my kids sell home, when I die. Thanks for help. And yes, I’m going to a professional, I’m just curious rite now.

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Johnny Blaze asked:


I say he could replace Robert Wagner as the spokesman for reverse mortgages, he could endorse one of those bath tubs for old people that have the easy-access door, he could endorse New Balance shoes (only the ones with the velcro though.), and maybe he could replace the Mercury girl and be a spokesman for the Mercury Grand Marquise.

Any other ideas?
Since SNL is doing pretty well with it’s Palin sketches, perhaps they could resurrect the “Oops I crapped my pants” adult diapers sketch…it would be perfect for McCain.

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Loan Officer Tim asked:


I’m trying to be one of the “good guys” in this area of business as I have been for the last 10 yrs doing traditional mortgages. I’m looking for straight talk about how to best serve the senior citizens of the U.S.A. and how to find those people who could benefit from a HECM (home equity conversion mortgage…aka reverse mortgage) Sorry if asking business questions is not allowed – I was thinking more along the lines of market research. What do people know? How do they feel? What do they think they know? How can I be a better loan officer? What is the best way to market to you or educate you?
Thank you first three for posting as I’ve learned already the confusion surrounding this. (people can NEVER lose their home or be asked to leave. Our govt. insures these loans to ENSURE that lenders AND borrowers are protected and get all that they are supposed to.
It is a loan. A non-recourse loan…meaning the lender can NEVER be paid anything from the borrowers. Lender only receives payment when house is sold after persons pass away or permanently move out. Heirs may keep the home and do a regular refi to get it in their name if they wanted.

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Moonbaby3 asked:


From what I’ve heard, it sounds too good to be true and I don’t want my older family members to get into something bad because their home is paid for and worth good money, especially if they wait and don’t sell until the market gets better in I’d say about 2 years.

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Bobi asked:


I am looking for articles with free reprint rights to send to prospective reverse mortgage customers. I would use these in marketing and ads. Any articles relevant to Senior citizens would be appreciated. Any articles/tips on working reverse mortgages would also be welcome.

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Misee asked:


If someones parent has a reverse mortgage on their home. If
and when the parent passes on. Will the percentage that the
parent had for repayment of a loan extend to the survivor, or
will the bank re-do the contract to reflect the new owner of the
home?

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anteater 69 asked:


Equal protection under the law and other American principles should allow adults of any age to participate in any economic activity. I wonder if this has ever been challenged legally.

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topcat asked:


I am thinking of taking out a reverse mortgage . Should I ?? if so with who?? Any ideas??

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Philip asked:


I am a US homeowner. Instead of refinancing, I wanted to explore the possibility of a reverse mortgage.All I have seen so far is that this is only good for homeowners aged 62 or more. Is there a company that provides reverse mortgages for those younger than 62?

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