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Reverse Mortgage Pre Foreclosure Notice RPAPL 1304 Engish  Form

Reverse Mortgage Pre Foreclosure Notice RPAPL 1304 Engish Form

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[Music] today's question comes from mark in missouri he said i know you hate reverse mortgages but my question is this i'm 57 and my wife is 32. we have no kids i was thinking of getting a reverse mortgage to enjoy my money while i can let's say i live another 20 years then my wife inherits the house and lives there the rest of her life why shouldn't i get a reverse mortgage well because market's not going to work like you think it's going to work you just picked up the high points that the sales job gave you and you didn't get the reality the reality is the interest rates that the reverse mortgages are calculated on are almost double what traditional interest rates are on a mortgage the fees are more than double when you go to close on the reverse mortgage they get you coming they get you going and the foreclosure rate on reverse mortgages is ten fold the national average for traditional mortgages wait wait wait wait wait they&am

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