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Sherri Said:

What are the advantages of a reverse mortgage? The best reasons to ask for one.?

We Answered:

Suppose you did a reverse mortgage.
Suppose at age 84 you get sick of repairing your home, and mowing the grass.
Suppose you want to move out. You will have nothing, absolutely nothing. At least if you keep your home, you can sell it and get something out of it.
Think of your home as insurance in case you ever need to sell it to move to a retirement home or a nursing facility.
I wonder if your children would love you as much knowing they have no home coming to them.

Better deal. Sell your home, move to a smaller one. Cash out some money. When you are 80 plan in moving to a little tiny place. And please watch the fees on those reverse mortgages. If you ever want to sell or die early, you'll regret it.
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Edna Said:

Is there any requirement for reverse mortgage?

We Answered:

If you are looking for a reverse mortgage to receive some much needed cash, you may want to look into a reverse mortgage wholesale loan. This is the perfect way for you to get a reverse mortgage<!--without all the added fees that lenders are adding on these days. Keep reading to discover exactly what this type of loan is and what it can do for you.A reverse mortgage wholesale loan is not available directly to you.

http://mortgages-finance.awardspace.com/Advantages-Disadvantages-of-Reverse-Mortgage.htm

This type of mortgage loan is sold to a lender at a discounted rate and the lender will add points to the rate and pass the savings on to you.There are three main-->agencies that sell reverse mortgage wholesale lender accounts. These agencies are the Federal Housing Authority, the Fannie Mae foundation and the Financial Freedom Cash Account.

Herman Said:

I am thinking about gettin a reverse mortgage,I want to hear from anyone that has gotten one?

We Answered:

i run the website http://www.reversemortgagepage.com, so I am constantly talking to seniors abou their experiences with reverses and I have a few themes to report:
1. Seniors who get a reverse are almost always initially glad they did
2. You won't be unhappy until down the road if you need to enter a nursing home - problems will start then
3. A reverse mortgage is not the right move in many, if not most, cases
4. When it is the right move, it is a lifesaver

My advice - talk to four-five reverse mortgage lenders and start the conversation with, "Why shouldn't I get a reverse mortgage." This way, you will be able to determine a.) if you SHOULD get a reverse and b.) who the best lender is, because the best lender will not shy away from the disadvantages.