Our product the Reverse Mortgage Pest Alert program was designed to reveal and alert people on what we call reverse mortgage pests. The term “reverse mortgage pests” refers to the problems, deceptions and negative side of a reverse mortgage. While a lot of reverse mortgage experts and brokers always sing reverse mortgage praise we will always alert you to the downside that you will need to consider.
Taking a brief look at what reverse mortgaging is all about, reverse mortgaging, also known as lifetime mortgaging, is a financial support scheme that gives support to senior citizens after they retired. This mortgages are made available to citizens of 62 years of age or older who has a home as a primary residence but needs some funds to either pay off an existing mortgage, daily living expenses and other needs. A reverse mortgaging gets its name from the action of taking or reversing the equity of a home rather than building the equity.
While this may seem as a credible arrangement to help senior citizens earn an income at their retirement age it is quite a deceptive practice used by reverse mortgage lenders. Reverse mortgage pests that no one will alert you of may just negate the seemingly benefits of reverse mortgages.
Among the list of reverse mortgage pest are the high costs (see a reverse mortgage calculator) involved with applying and securing the loan, variable interest rates which compounds and reduces your home equity with speed as well as the fact that the house will not be available as an inheritance for your heirs. To get a more comprehensive list of reverse mortgage problems or pests, please visit the reverse mortgage pest list page.
The reverse mortgage pest alert sends you a list of all reverse mortgage disadvantages or pests. As new reverse mortgage pest or disadvantages are identified or become known in the industry you will get an email alert. To enjoy this service you have to subscribe for it. The cost of a year’s subscription is $88. Please visit the subscription page for more information.
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