Information about Reverse Mortgages from HUD and the FTC | In NewRetirement's Questions & Answers Forum

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QUESTION:
Information about Reverse Mortgages from HUD and the FTC
A couple of handy links from trusted sources for background on Reverse Mortgages. HUD HECM reverse mortgage information "Top Ten Things to Know...": http://www.ftc.gov/bcp/conline/pubs/homes/rms.shtm FTC information "Get the Facts...": http://www.ftc.gov/bcp/conline/pubs/homes/rms.shtm For more detailed information, visit NewRetirement's Reverse Mortgage Section too! http://www.newretirement.com/Services/Reverse_Mortgage.aspx
	asked by NRAdmin, 7/31/2007
Categories: Reverse Mortgages, Reverse Mortgage

ANSWERS:
	Answered by: mikrace, 01/25/08 Overall Rating: Be the first to rate it.
i'm nearing 75 and my finances are poor at this time. would a reverse mortgage be beneficial or a detrement in a long period of time? Login to rate this answer:
	Answered by: Tamera, 03/02/08 Overall Rating: Be the first to rate it.
"i'm nearing 75 and my finances are poor at this time. would a reverse mortgage be beneficial or a detrement in a long period of time?" That would all depend on your situation. Does your financial situation cause you undue stress? Would using a portion of the equity in your home now give you some peace of mind? The answers would depend on how much money you used from your reverse mortgage, and over what period of time. I am a Reverse Mortgage Specialist employed directly with Financial Freedom, a preferred lender with New Retirement. I would be happy to run some scenarios for you, and provide you with an estimate of how much would be available and the costs associated with it. Please dont hesitate to contact me: tfield @ financialfreedom.com or 877-632-7890 Tam :) Login to rate this answer: