Real estate blog entries tagged with reverse by Brian Thompson w/ Wells Fargo

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reverse: Top 10 Reverse Mortgage Myths!!! - 07/02/08 10:49 AM

Myth #1 - The bank takes the house OR the borrower can lose the house.

With a reverse mortgage, the borrower retains title to the home throughout the life of the reverse mortgage. The borrower cannot, as a result of the reverse mortgage be forced out of his or … (1 comments)

reverse: Why are reverse mortgages so scary? - 05/28/08 02:08 PM

It's troubling to me that with today's high prices of gasoline, food, energy, etc. that senior citizens are reluctant to take advantage of a reverse mortgage because of their fear of the program. Why is a reverse mortgage so scary? Reverse mortgages saw some popularity in the 1980's and with this … (4 comments)

reverse: Why are people so afraid of reverse mortgages? - 04/30/08 02:38 PM

Why are people so afraid of reverse mortgages? You can walk into any room and ask for people's ideas about reverse mortgages and you will hear words like "scam", "predatory", and "steal". Let me be the first to tell you that these feelings are not unwarranted. Back in the 1980's when reverse mortgages … (2 comments)

reverse: I'm proud to offer Reverse Mortgages...You've got to read this story! - 04/28/08 09:01 PM

When I first began in the reverse mortgage business I was embarrassed to tell friends and family what I was doing because of the negative perception of the product. I did not want my friends and family to believe that I was "preying" on senior citizens with a predatory loan product. … (1 comments)

reverse: You can offer reverse mortgages too... - 04/28/08 12:51 PM

With the popularity of reverse mortgages many people are looking to get in on the action. I offer a program to non-FHA licensed mortgage brokers where they can broker-in our reverse mortgage product. Banks, credit unions, and savings & loans are exempt from licensing requirements and therefore ARE eligible. With this … (0 comments)

reverse: Reverse mortgages as a tool for real estate agents. - 04/28/08 12:11 PM

I was recently contacted by a local real estate agent about our reverse mortgage program. She had a client who had $150,000 to spend on a home. The problem was, this client liked all the $200,000 homes, however, she did not want a monthly mortgage payment. The agent asked me, "Can … (3 comments)

reverse: What is a reverse mortgage? - 04/28/08 11:34 AM

What is a reverse mortgage? A reverse mortgage is a special type of loan that enable seniors to convert some of their homes equity into tax-free funds. Unlike traditional equity loans, no repayment is required until thet home is no longer the borrower's primary residence.
Who is eligible? Senior homeowners, over the … (3 comments)

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