Comments on: New FLEX Jumbo Reverse Mortgage Details http://reversemortgagedaily.com/2009/04/08/new-flex-jumbo-reverse-mortgage-details/ Reverse Mortgage News and Information Fri, 10 Feb 2012 19:11:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Scott R http://reversemortgagedaily.com/2009/04/08/new-flex-jumbo-reverse-mortgage-details/comment-page-1/#comment-23439 Scott R Fri, 10 Apr 2009 00:50:15 +0000 http://reversemortgagedaily.com/2009/04/08/new-flex-jumbo-reverse-mortgage-details/#comment-23439 In Maryland for example there's a recordation tax that could easily be $5000. I'm not defending their numbers, just giving an example of where that extra money could come from. In Maryland for example there’s a recordation tax that could easily be $5000. I’m not defending their numbers, just giving an example of where that extra money could come from.

]]> By: sheri schmitz http://reversemortgagedaily.com/2009/04/08/new-flex-jumbo-reverse-mortgage-details/comment-page-1/#comment-23423 sheri schmitz Thu, 09 Apr 2009 22:03:31 +0000 http://reversemortgagedaily.com/2009/04/08/new-flex-jumbo-reverse-mortgage-details/#comment-23423 Good luck contacting 1st Reverse and getting a response... They are all so hush hush over there... Good luck contacting 1st Reverse and getting a response… They are all so hush hush over there…

]]> By: Ms. Former FF Gal http://reversemortgagedaily.com/2009/04/08/new-flex-jumbo-reverse-mortgage-details/comment-page-1/#comment-23422 Ms. Former FF Gal Thu, 09 Apr 2009 21:59:05 +0000 http://reversemortgagedaily.com/2009/04/08/new-flex-jumbo-reverse-mortgage-details/#comment-23422 Not only is this jumbo just a "feel good" product with virtually no commissions but also 1st Reverse does this for the publicity. Nothing more! Not only is this jumbo just a “feel good” product with virtually no commissions but also 1st Reverse does this for the publicity. Nothing more!

]]> By: sheri schmitz http://reversemortgagedaily.com/2009/04/08/new-flex-jumbo-reverse-mortgage-details/comment-page-1/#comment-23417 sheri schmitz Thu, 09 Apr 2009 20:57:16 +0000 http://reversemortgagedaily.com/2009/04/08/new-flex-jumbo-reverse-mortgage-details/#comment-23417 Who cares... Just like every other product that 1st Reverse has- you wont make any money on this loan. All of their loans are "feel good" loans- I guess for people who do reverse mortgages out of the goodness of their hearts. What a joke! Who cares… Just like every other product that 1st Reverse has- you wont make any money on this loan. All of their loans are “feel good” loans- I guess for people who do reverse mortgages out of the goodness of their hearts. What a joke!

]]> By: Jamie Longe http://reversemortgagedaily.com/2009/04/08/new-flex-jumbo-reverse-mortgage-details/comment-page-1/#comment-23376 Jamie Longe Thu, 09 Apr 2009 13:47:42 +0000 http://reversemortgagedaily.com/2009/04/08/new-flex-jumbo-reverse-mortgage-details/#comment-23376 This is not a term loan this is a tenure loan. Please contact Jamie Longe, National Wholesale Director at 1st Reverse jlonge@1streverse.com for the facts. This is not a term loan this is a tenure loan. Please contact Jamie Longe, National Wholesale Director at 1st Reverse jlonge@1streverse.com for the facts.

]]> By: Ms. Former FF Gal http://reversemortgagedaily.com/2009/04/08/new-flex-jumbo-reverse-mortgage-details/comment-page-1/#comment-23357 Ms. Former FF Gal Thu, 09 Apr 2009 10:19:10 +0000 http://reversemortgagedaily.com/2009/04/08/new-flex-jumbo-reverse-mortgage-details/#comment-23357 Rumor has it that it is NOT a "reverse mortgage" but instead a "term" loan with a lump sum due date of 7, 10 or 15 years. ...and cash-out is required. Do the math, this term loan won't be able to be refinanced as the equity will be all used up. The years come and then what? I guess this would be an option for people with a 2.5 million dollar house (not less and not more) who have no other options because their credit/income is bad and they are about ready to lose their home in a foreclosure sale. I say; "don't get too excited about this product until you get all the facts". Ms. Former FF Gal Rumor has it that it is NOT a “reverse mortgage” but instead a “term” loan with a lump sum due date of 7, 10 or 15 years. …and cash-out is required.

Do the math, this term loan won’t be able to be refinanced as the equity will be all used up. The years come and then what?

I guess this would be an option for people with a 2.5 million dollar house (not less and not more) who have no other options because their credit/income is bad and they are about ready to lose their home in a foreclosure sale.

I say; “don’t get too excited about this product until you get all the facts”.

Ms. Former FF Gal

]]> By: Frank http://reversemortgagedaily.com/2009/04/08/new-flex-jumbo-reverse-mortgage-details/comment-page-1/#comment-23350 Frank Thu, 09 Apr 2009 08:13:53 +0000 http://reversemortgagedaily.com/2009/04/08/new-flex-jumbo-reverse-mortgage-details/#comment-23350 The age of the borrower in the example is?? 80/81?? The age of the borrower in the example is?? 80/81??

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