Comments on: Reverse Mortgages – Pros and Cons http://savingmoneytoday.net/2009/reverse-mortgages-pros-and-cons/ Earn More. Save More. Live More. Thu, 09 Sep 2010 18:05:41 +0000 hourly 1 By: bryan http://savingmoneytoday.net/2009/reverse-mortgages-pros-and-cons/comment-page-1/#comment-1934 bryan Sat, 04 Sep 2010 14:29:58 +0000 http://savingmoneytoday.net/?p=215#comment-1934 In the scenario above, if you want to move out of the house and the reverse mortgage balance exceeds the current market value, it does not make sense to me to try and sell the house, because you would still have costs associated with selling the house such as real estate commissions, etc. Wouldn't it make more financial sense to just turn the house over to the bank and have them foreclose on the property? or am I missing something important. In the scenario above, if you want to move out of the house and the reverse mortgage balance exceeds the current market value, it does not make sense to me to try and sell the house, because you would still have costs associated with selling the house such as real estate commissions, etc. Wouldn’t it make more financial sense to just turn the house over to the bank and have them foreclose on the property? or am I missing something important.

]]> By: Mike http://savingmoneytoday.net/2009/reverse-mortgages-pros-and-cons/comment-page-1/#comment-149 Mike Tue, 12 Jan 2010 13:15:34 +0000 http://savingmoneytoday.net/?p=215#comment-149 Reverse mortgage costs can be substantial but they can vary pretty wildly from one lender to another. Here's an article I found that discusses the typical costs involved in a reverse mortgage and a rough estimate of what they each cost. http://www.reversemortgage.org/Default.aspx?tabid=237 thanks for your feedback. :) Mike Reverse mortgage costs can be substantial but they can vary pretty wildly from one lender to another. Here’s an article I found that discusses the typical costs involved in a reverse mortgage and a rough estimate of what they each cost.

http://www.reversemortgage.org/Default.aspx?tabid=237

thanks for your feedback. :)

Mike

]]> By: fern http://savingmoneytoday.net/2009/reverse-mortgages-pros-and-cons/comment-page-1/#comment-147 fern Sun, 10 Jan 2010 13:22:46 +0000 http://savingmoneytoday.net/?p=215#comment-147 I thought this was a really incomplete article. You failed to address the single most controversial aspect of reverse mortgages: their cost. I thought this was a really incomplete article. You failed to address the single most controversial aspect of reverse mortgages: their cost.

]]>