Posted by Anonymous on 7/7/06 10:24am
Msg #131446

Reverse Mortgages

Do you feel Reverse Mortgages are not worth the time? Especially from SS that pay $50. Just curious!

Reply by db_IL on 7/7/06 10:27am
Msg #131448

What transaction is worth $50?!? Doesn't matter if its forward, sideways or reverse that $$ is way too low.

Reply by BrendaTx on 7/7/06 10:30am
Msg #131449

If I had my choice I would not do anything else but reverse mortgages.

The people in my experience have been 95% delightful. Of course there is one in every crowd.

Would I do them for $50? No. No way. They take longer, have larger packages. Learn the docs well and understand the basic function of a rev mort. Then, take what you know and go hit up rev mort LOs.

Reply by Charm_AL on 7/7/06 10:35am
Msg #131452

R/M's are worth the time and no, I would never do one for $50.00

Reply by Ernest__CT on 7/7/06 2:31pm
Msg #131541

Yes, Reverse Mortgages ARE worth the time! $50? Lady Rouge (she of the Red Hat) came into the room to see why I was laughing so hard.

So far (knock on wood), I've found that the people signing Reverse Mortgages have been well-informed and that there were no surprises at the signing table. I plan a lot of extra time, however, so that the mortgagees can ask questions and go at their own speed. Nearly all have been charming people.