NLIC.org

Nathan Said:

I am trying to promote my Reverse Mortgage consulting business how can I do it?

We Answered:

Spend some time in the courthouse records room researching titles and mortgages...there you will find your absoulte best source for ripe and ready customers.

then make contact with them in their mailbox.

Bertha Said:

In California, if property is held in a trust, can you do a reverse mortgage?

We Answered:

Hi,
I used "Credit Solution" to settle my mortgage.They managed to reduce my mortgage up to 58%.It's legitimate.I came across this company on NBC News Special Edition.Check it out here:
http://urlhawk.com/4ys

Terrance Said:

If I get a Reverse Mortgae and my wife is under 62 when I die, is the loan due?

We Answered:

All I know is that this is one of the newest legal scams to get people to part with their hard earned retirement savings! Please check out Suzzie Ormans advise on this subject as she explains the con very well, and will give you other and better ideas as to how you can accomplish the same thing only better. PLEASE research this thoroughly before you do anything!

Charlie Said:

if a person is age 58 and their home is paid for in CALIFORNIA can they get a reverse mortgage?

We Answered:

no, they want you to be, 62. its a bet that you will die before all of the equity is gone. if you ever need to move, you will repay them, and so will anyone who inherits the house and wants to keep it. they also charge you lots of fees (as in they give you less then what the house is worth)

some other things to think about

Repaying a HECM
As with most reverse mortgages, you must repay a HECM loan in full when the last surviving borrower dies or sells the home. It also may become due if:

you allow the property to deteriorate, except for reasonable wear and tear, and you fail to correct the problem; or
all borrowers permanently move to a new principal residence; or
the last surviving borrower fails to live in the home for 12 months in a row because of physical or mental illness; or
you fail to pay property taxes or hazard insurance, or violate any other borrower obligation.