How would you describe the perfect loan?
If you could design a loan that helped both you and the bank that lent you the money to buy the home, how would you design it?
1) Payments: How about, “You pay what you can/want, when you can/want”
2) Interest Rate: How about, “I pay the same interest rate that the government pays out when people buy treasury bills, and let the bank earn 1.5% over and above that, just to be fair”
3) Length of the loan: How about, “The rest of my life, and if I am married, the rest of both our lives.”
4) Fees: Show me all the fees up front. Don’t hide them in a higher interest rate.
5) Security: Have my loan backed by the government. HUD
6) Give me a credit line if I have money left over, and have it grow. In fact have it grow at a higher interest rate than the loan.
7) Give me the option of government Tenure payments instead of the credit line, and make the payments backed by the government for the rest of my life.
8) I don’t want to have to use any money out of my pocket to get this loan.
9) Make it quick. I want to have this done in under a month.
10)Give me a person to talk to. I want to be able to reach someone during regular business hours, without having to talk to a computer, or without having to hold for longer than a few seconds.
Everything above is part of the reverse mortgage program offered by our company. No other loan company, let alone any reverse mortgage loan company can meet this quality and quickness.
You have no idea how much a reverse mortgage can help you. You really don’t. You need to talk to someone about reverse mortgages, because what you don’t know can hurt you AND other seniors. If you need to know, learn from the best.
Bob Fisher
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