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has anyone heard of this co. or know of someone who has done this type of reverse, reverse mortgage?

By Hermia Craft

Real Estate Agent with Prudential California Realty

July 23, 2007 06:43 AM

i added this to my blog http://www.acastle4u.blogspot.com/ i need some feedback about this company tho. thanks

http://www.rex-inc.com/index.php/rex/how_it_works/

You've heard of a reverse mortgage? Well now, there is a company that is offering something similar for those of us with a life expectancy of at least 20 years or more.

I recommend using the program at your own advisement; as I do with the reverse mortgage programs. They basically take an investment % stake in your home. Neither payments nor interest is paid on the money while you are involved with them. The program offers to "loan" you money on the future equity of your home's sales price. For this, they get a percentage of the increased equity difference. If the house loses value at the time of sale then they also share in the perceived loss of value.

What I would use this type of Investment Loan for: Exactly That. An investment that I figured was going to garner more than the "loan" was going to cost me and also allow me to increase my investment portfolio in proportion to a great amount than the use of their money was going to garner. NOT to pay bills, not to purchase a non-performing asset (car, clothes, tuition, short term loan or take a trip). Remember that there will be a sale date certain attached to the investment monies advanced. For more information and to actually talk to a representative from accompany offering such "loans" click on the following link. http://www.rex-inc.com/index.php/rex/how_it_works/

I have no affiliation, connection nor know anyone as of this review that works for the company, nor am I profiting in any way by making you aware of this other "loan" option.

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Posted By Hermia to ACastle4u - Real Estate Info for You from Hermia at 7/22/2007 03:24:00 PM

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Bob Southard

Atlas Realty Service, LLC - Kennesaw, GA

e-Pro - Cobb,Cherokee,NorthFulton,Paulding,Bartow

I have heard of reverse mortgages but this looks like a new twist on that concept. It looks like it could be risky for somebody who is not well advised. But with the right advise and understanding, it could be a good idea for some people.

Jul 23, 2007 06:51 AM

Chuck Christensen

Your Financial Coach - Bellingham, WA

The word scam come to mind. You have the investment part down and your right...so I would advise staying away. Who can predict the future of house prices anyway. My parents who bought their first house for $8000, still can't fathom the same house is on the market for $485,000. and it's more than 50 years old now.

Jul 23, 2007 06:55 AM

Patrick Carney

NBI Financial - San Ramon, CA

Real estate exchange agreements have many applications. Someone strapped for cash could use it to pay off their home equity loan or pay down their variable rate mortgage to convert to a fixed loan with reduced payments. For seniors who may not need the full benefit of a reverse mortgage, this may be a way to preserve the estate, create a little extra cash and possibly fund long term care insurance. At least all the current equity does not become subject to interest rate risks inherent within a reverse mortgage. As a CPA I see many applications, but it will not be for everyone.

Jul 24, 2007 03:57 AM

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Hermia Craft

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