9 Aug, 2018 → by ClaimboUser245653
Elders be aware of reverse mortgage SCAMS
If you are thinking about getting a reverse mortgage from any bank or reverse mortgage company, be aware and check them out for real thoroughly. It sounds like a good deal ? But there are those that will have you sign many papers with all kinds of HUD regulations, that you will need a district court judge to explain the not so simple rules. If you are elderly and you have paid off your 1st mortgage after a 30 year mortgage...and your house is in still in pretty good condition. Be sure you get several quotes from different agents and real estate firms, or companies. Also absolutely take a lawyer with you even if you have to pay him to do so. sure you understand the terms and whatever you do make sure all is truly understood. Speak to your family if you have a close relative you can trust. If not sure of anything, STOP, and sell your house your-self.