Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "Reverse Mortgages"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous][quote=Anonymous]DONT DONT DONT! Wells Fargo stopped issuing them there were so many frauds etc. A great way to go from having assets to being broke at an elderly age.[/quote] Totally disagree. It depends on the person and their financial situation but we did one for my grandmother last year and it was the best choice we could have made. In our case, my grandma was living on social security and whatever the family could contribute. It just wasn't enough. She received a lump sum which was equivalent to about 80% of the appraisal. She now has a large sum of cash to live on and the house can not be taken away from her. Her quality of life is so much better now and that is more important to me than inheriting her house when she passes away. The fees were pretty low. Just make sure to work with someone you trust. I think the loans are more regulated now than they were a few years ago. Good luck![/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
