NLIC.org

Tammy Said:

Reverse Mortgage Payback?

We Answered:

Reverse mortgages aren't ever called due. They are due when you sell or die. This case you would just use a regular calculation to compute your total cost. Make a spreadsheet with the years down the first column. Have the total in the 4th Column, and the interest rate in the 2nd column. In the third column have a formula taking the total time the rate and adding it to the total from the forth column. Put the new answer in the 4th column for the next year. copy down 15 years.
WARNING the interest rate isn't the APR the use the real interest rate.

Your loan balance will get bigger every year and the orginal closing cost are outrageous. You can get them as young as 62 but if you are that desperate at 62 you probably can't afford to stay in your home.

Ray Said:

What will you do to your Grandma in this situation?

We Answered:

This is so much literature for one to take in.. OUCH!!!

Douglas Said:

Why does yahoo pirate its way into my companies domain name "aapexmrtg" to advertise its website "answer.yahoo

We Answered:

What a bunch of crap. Anyone giving Overture/Yahoo pay per clikc money is throwing it out the window. It is so out of control over there. My account is offline since I learned of these kinds of practices. I am MAD and I am feeling ripped off.

If I buy a product I expect to know what I am getting. If you are not careful with Overture/Yahoo you get promoted in these ways. I recommend you go back to a system of exact matching and NEVER let Yahoo! blanket match or content match for you, it's insane!

To go a step further, Yahoo! has forsaken its roots as a search engine. I love their software but their core was search engine. I have many entries in the directory, it used to be this was a good thing. They cost me 300/yr. Noe for this about one would expect some value in the search results of their web results especially when their web results have no good answers. You value as a URL in their directory buys you NOTHING. It is completely outragious because it used to hailed as the best hand editied reference and now is blown away with web results in its place that are often POOR results.

If you're listening NEO (YAHOO!) your network is crashing and you need to stop bleeding the pay-per-click world for you mistakes. Go back to your roots, learn from your mistakes. Oh yeah, continue to make the software, I like the messenger but not the widget engine.


I better get best response for this!

Milton Said:

Where can I find the formula & lookup table for a reverse mortgage? I want to build/code a reverse mtg calc.?

We Answered:

Tables are worth LESS for this purpose than not having a clue. If formula is EXACTLY the same as for ANY loan. If you can't figure out how to apply it without our help, you are not qualified to build the calculator you propose.