Comments on: Reverse Annuity Mortgages http://www.annuitypurchaseblog.com/lump-sum-annuity/reverse-annuity-mortgages Buy Annuities and Annuity Information Sat, 24 Jul 2010 03:06:59 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Byron W http://www.annuitypurchaseblog.com/lump-sum-annuity/reverse-annuity-mortgages/comment-page-1#comment-162 Byron W Sun, 01 Mar 2009 06:06:59 +0000 http://www.annuitypurchaseblog.com/lump-sum-annuity/reverse-annuity-mortgages#comment-162 what kind of annuity? no to a fixed period of years annuity, maybe to a life long annuity<br><b>References : </b><br>http://www.reversemortgagepage.com what kind of annuity?

no to a fixed period of years annuity, maybe to a life long annuity
References :
http://www.reversemortgagepage.com

]]> By: OShenandoah http://www.annuitypurchaseblog.com/lump-sum-annuity/reverse-annuity-mortgages/comment-page-1#comment-161 OShenandoah Sun, 01 Mar 2009 06:04:59 +0000 http://www.annuitypurchaseblog.com/lump-sum-annuity/reverse-annuity-mortgages#comment-161 Reverse mortgages should be a "last resort" move. The problem being the lenders take a huge amt. in interest - much like a "regular" mortgage, in the early years of paying.. Example: On a regular mort. if your payment, in the early years, is $700 - as much as $550 of that payment can go to interest (and not into paying off the debt)! So a reverse mort. causes you to lose a lot of the equity you built up in the house - because the same kind of interest is being taken by the lender. As I recall, you're given several options of how you want the reverse mort. to pay out - monthly, annually, or "as needed". And, I believe the only one of these 3 options allows any interest to be earned by the mort. holder is the 3rd option. I believe the best option is - the 3rd option -to leave the funds in, earning a little interest, and draw off large sums as needed. (especially if she doesn't require the funds for normal expenses) That way, at least you're "re-earning" some interest money. The reverse mortgage programs vary from lender to lender. Of course, it would be great if you could speak to a knowledgeable loan officer.<br><b>References : </b><br> Reverse mortgages should be a "last resort" move.
The problem being the lenders take a huge amt. in interest -
much like a "regular" mortgage, in the early years of paying..

Example: On a regular mort. if your payment, in the early years, is $700 – as much as $550 of that payment can go to interest (and not into paying off the debt)!

So a reverse mort. causes you to lose a lot of the equity you built up in the house – because the same kind of interest is being taken by the lender.

As I recall, you're given several options of how you want the reverse mort. to pay out – monthly, annually, or "as needed".
And, I believe the only one of these 3 options allows any interest to be earned by the mort. holder is the 3rd option.

I believe the best option is – the 3rd option -to leave
the funds in, earning a little interest, and draw off large sums as needed. (especially if she doesn't require the funds for normal expenses) That way, at least you're "re-earning" some interest money.

The reverse mortgage programs vary from lender to lender. Of course, it would be great if you could speak to a knowledgeable loan officer.
References :

]]> By: nochocolate http://www.annuitypurchaseblog.com/lump-sum-annuity/reverse-annuity-mortgages/comment-page-1#comment-160 nochocolate Sun, 01 Mar 2009 01:02:37 +0000 http://www.annuitypurchaseblog.com/lump-sum-annuity/reverse-annuity-mortgages#comment-160 <b>Reverse Mortgage. Should she get an annuity?</b><br>My mother has a line-of-credit type Reverse Mortgage. She really could live without it but now that she has it, can she get an annuity, and will that be a wise decision. She has had the loan for 1 year. Reverse Mortgage. Should she get an annuity?
My mother has a line-of-credit type Reverse Mortgage. She really could live without it but now that she has it, can she get an annuity, and will that be a wise decision. She has had the loan for 1 year.

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