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Not another "Reverse Mortgages Are So Bad" blog?!?!?!

OK, sorry to preach, but I just saw a blog about Reverse Mortgages by Michael Pinter.
First, let me commend him for his blog [I can't believe that so much media attention
about Reverse Mortgages is still negative] where he plainly states he doesn't
understand all the negative publicity about Reverse Mortgages.  Second, I keep
saying the same thing, those that are so negative about reverse mortgages usually
do not have all the correct facts about reverse mortgages!
 
Let me address several issues made in the comments:
Reverse Mortgages WERE  a rip-off - Honestly, to those that know or remember the reverse mortgage products from the '70's & '80's, they WERE a rip-off, but the FHA/HUD backed HECM Reverse Mortgage programs will not allow this - and for good reason.  There used to be equity sharing, forced annuities, etc.  These are no longer allowed - period!  The bank gets the home when the person dies OR the bank takes title to the home when I sign the reverse mortgage papers. Or any other version of this perception.  This is one of THE most common myths.  I've addressed this several times in my blogs [blog1] [blog2] [blog3] [blog4] [blog5] [blog6] - boy did I say ... more

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