Reverse mortgage sources …..

  • Mocha
    Park Rapids
    Posts: 1452
    September 24, 2013 at 6:38 pm #1283654

    Just starting my research into reverse mortgages for an elderly relative. Has anyone had any experiences with a good source for these?

    The only one I have heard about so far is MetLife.

    Any info would be greatly appreciated.

    Thanks!

    Calvin Svihel
    Moderator
    Northwest Metro, MN
    Posts: 3862
    September 24, 2013 at 6:56 pm #1196589

    Need to be over the age of 62.5, need to have at least 50% equity in the home as well. I have some contacts for reverse mortgage if you need them.. Feel free to PM me.

    grumpy
    Iowa, Clinton
    Posts: 489
    September 24, 2013 at 7:16 pm #1196593

    Ask your banker

    jc3363
    LaCrosse,WI
    Posts: 61
    September 25, 2013 at 1:05 am #1196630

    Be prepared to pay BIG up front fees(ie value they take off of home). Seems like a reasonable deal until you figure out how much it really costs you.

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