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Im thinking of getting a Reverse Mortage, but what company to get it from?I bank with Wells Fargo, but there are so many others, who has one of these and who did you deal with?
Im thinking of getting a Reverse Mortage, but what company to get it from?I bank with Wells Fargo, but there are so many others, who has one of these and who did you deal with?
Bet you get PM's from lurkers offering to sell you one.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,661 posts, read 57,789,143 times
Reputation: 46126
Quote:
Originally Posted by mathjak107
the fees and interest are ridiculous
and beyond >>>>. (looks like a better idea to get into a private 'shared equity' program, with family, friends or some benevolent lender (not a bank or mortgage company!!!)). There are a lot of "sleeze" promoters in this business, that is never a good sign.
From my numbers, looked like a HELOC was a better way to access your equity.
I'm currently enjoying a HELOC at under 3% that I used to pay off some income props.
There are a couple threads covering this topic RM, not pretty.
beware some are good many are bad......or just take the money and fly to vegas!!!!!!!
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