Mortgage Blog

The real story on Trump's Treasury pick and reverse mortgages

Terrific article that puts the terminology surrounding reverse mortgages in better context and explains it so normal people can understand. As the article denotes, with a Reverse Mortgage, foreclosure is not necessarily a bad thing.  Foreclosure is nothing more than the legal mechanism that follows state protocol that allows the lender to take control of the property and initiate recovery of their security interest.  With a reverse mortgage it is not uncommon for the property to be under water after expected selling expenses.  It is also not uncommon for the family not to w...

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January 20th, 2017 | Reverse Mortgage, Traditional Mortgage, foreclosure, Trump, Treasury, The real story on Trump's Treasury pick and reverse mortgages