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demigoddess

(6,675 posts)

12. the magic word there is AVERAGE

Reply to Bandit (Reply #11)

Wed Jan 28, 2015, 01:31 PM

Jan 2015

any house that has a family that needs a reverse mortgage because the owners cannot pay their regular mortgage is in a neighborhood that probably will not double in any decade. We have newly built neighborhoods nearby where the houses are 400-500 thousand. Those houses are selling fine, in our neighborhood, just 2-3 blocks away, we have had a high rate of foreclosures. Average them out and things are just fine. And apparently, I have bought and sold more houses in more states in the last 40+ years than you have.

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The conservative (bowel) movement is full of scams. [View all] Archae Jan 2015 OP

I always knew the reverse mortgages are a scam demigoddess Jan 2015 #1

If you really examine it, it doesn't appear to be a scam at all Bandit Jan 2015 #2

and when you move out of your home to the nursing home demigoddess Jan 2015 #5

Why do people need a mortgage of any kind? Bandit Jan 2015 #6

"hopefully their house will have gone up in value" demigoddess Jan 2015 #8

You are correct it is not a guarantee your home value will increase, however Bandit Jan 2015 #11

the magic word there is AVERAGE demigoddess Jan 2015 #12

In the first place you have to be over sixty five to even qualify for a reverse mortgage Bandit Jan 2015 #13

and they pay interest on that money. demigoddess Jan 2015 #14

You pay interest on any money you borrow and the people are not stupid Bandit Jan 2015 #15

Everyone who is surprised by this stand on your head... hifiguy Jan 2015 #3

"He that lieth down with dogs shall rise up with fleas." Benjamin Franklin. alfredo Jan 2015 #4

Conservatism makes a religion of scamming. Orsino Jan 2015 #7

The entire right wing puts the con in conservative meow2u3 Jan 2015 #9

shhhh do not tell anyone dembotoz Jan 2015 #10