Consumer protection against financial rip-offs, scams, and imprudence
Considering a reverse mortgage? Perhaps to shore up your budget or raise funds for a big purchase? Stop and save yourself from financial ruin. Contrary to statements in ads, reverse mortgages do not provide any income and they bring on new ways…
Many deceitful institutions use the word income when referring to the cash flow from reverse mortgages. Such phrasing is an outright lie.
Credit card cash advances are widely known to be horrifically expensive means to borrow money.
The maximum amount of money you can receive via a reverse mortgage is some fraction of your home’s worth. Depending on interest rates a 62-year old might get between 13% and 52% of the home’s value, minus closing costs.