Comments on: AARP “Ambassador” Offers Advice On Reverse Mortgages

By: AAPR webs » aarp ambassador

AAPR webs » aarp ambassador — Tue, 20 Mar 2012 05:18:28 +0000

[...] 12.AARP “Ambassador” Offers Advice On Reverse Mortgages … Jan 11, 2009 … Over the weekend, the Los Angeles Times published an article describing how retirees are no longer counting on home equity to get … http://reversemortgagedaily.com/2009/01/11/aarp-ambassador-offers-advice-on-reverse-mortgages/ [...]

By: Jerry

Jerry — Mon, 12 Jan 2009 19:07:52 +0000

What a bunch of holier than thou BS. AARP makes money selling senior citizens overpriced insurance. They are nothing but a glorified insurance agency and rank right up there with ACORN as being altruistic.

By: James A. Nelson

James A. Nelson — Mon, 12 Jan 2009 17:16:48 +0000

It is a fact: When a Senior dies, the value of one’s home equity isn’t going with him/her. There really are only two choices: One, leave the asset for heirs
or, two, use some of your home equity (that you’ve worked your whole life to accumulate) to financially ease the burden of one’s last years. Simple choice, once explained. By the way, may I recommend to RMD
readers to read “Outrage! The $5.2 Trillion Question: Who Reaaly killed Fannie and Freddie?” by Bethany Mclean in the current (February) issue of Vanity Fair. The article is illuminating, sad, and almost
unbelievable.

By: Reed Swain

Reed Swain — Mon, 12 Jan 2009 15:50:17 +0000

As a reverse mortgage rep and a senior with a reverse mortgage I don’t trust AARP or Mr. “ambassador” Jonathan Pond! They speak out of both sides of their mouth. The supposed high cost of HECM loans is really no more than refiing your current loan on any FHA program. Both require the payment of a mortgage insurance premium upfront. Most mortgage bankers will tell you some of the best programs out there right now are FHA insured HUD products. 82% of reverse mortgages are paid off when the seniors pass away. Closing costs are really paid upon death. Who cares what I have to pay once I’m in my coffin!

By: fourbees

fourbees — Mon, 12 Jan 2009 14:59:56 +0000

The fox continues to guard the hen house. There should be an article on how many seniors took AARP’s advice to wait before getting a reverse mortgage, and now do not qualify because of falling home values. Thanks to AARP’s deceptive “advice”, many retirees are no longer able to count on home equity.