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Should Upfront Fees on a Reverse Mortgage Deter You?
Jack Guttentag is Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania. Visit the Mortgage Professor's web site for more answers to commonly asked questions. |
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Related Articles From Mortgage Professor's web site: Are Reverse Mortgages in the Mainstream? March 24, 2003 ?I read a lot about reverse mortgages and how they are becoming part of the financial mainstream. Is this true, and if so, why?? Reverse mortgages are picking up some steam, but they have a long way to go. A reverse mortgage is a loan to an ... more... How Do I Get a Reverse Mortgage? July 21, 2003 ?I am running short of money and friends tell me that I should take a reverse mortgage, but the thought of a complicated transaction involving my house just terrifies me. It would help a lot if you would lay out the steps in 1, 2 3 form?? With a reverse ... more... Can You Buy a House, Then "Reverse Mortgage" It? October 4, 2004 "My wife and I are 64 years old and can qualify for a reverse mortgage on our current house, but we want to relocate first. Can we buy a new house with a "forward" mortgage, and then take out a reverse mortgage?" Yes, but you will ... more... Should Upfront Fees on a Reverse Mortgage Deter You? 7 March 2005 Reverse mortgages allow elderly homeowners to cash-out some or all of the equity in their houses while preserving the right to live there as long as they want. This occasionally creates an inter-generational difference of opinion, as illustrated by the following ... more... |