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1   HeadSet   ignore (2)   2019 Mar 21, 11:50am     ↓ dislike (0)   quote   flag      

Problem: Too many people have paid off homes and are not paying banks interest and fees.

Solution: Reverse mortgage, and now jumbo reverse mortgages
2   everything   ignore (1)   2020 Jun 15, 10:53pm     ↓ dislike (0)   quote   flag      

Why are Jumbo's about a half point rate higher than non-jumbos. Good racket because houses are not getting any cheaper, and I see more jumbo's in the future.
Or, how can we find one that isn't gouging. We have 20% equity, no PMI, etc. already. House is in a upscale neighborhood as well.
3   ad   ignore (0)   2020 Jun 15, 11:00pm     ↓ dislike (0)   quote   flag      

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I'm glad my folks did not get a reverse mortgage. Instead they secured a home equity line of credit at prime rate (5.5%).

Prime rate is usually 3% (i.e., 300 basis points) above the federal funds rate. It is now 3.25%.

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