Reverse Mortgage, *Please read before considering*!

WeldrDave
I thank you for this thread just last night my paernts told me they were looking into a reverse mortgage. First I wanted to know why? They were just wanting to consolidate a few bills and get there motor home a few upgrades.
I showed them this and they could not believe that the bank would cheat you out of your house like that. Thankfuly they changed there minds.
Again thank you for posting this.
I don't recall seeing how things worked out for you but I hope it is finally settled.

 

WeldrDave I just read thru this entire thread and it's really got my blood boiling. Im very sorry to hear about everything you've been thru.

Thanks for putting yourself out there and raising awareness on the subject. Sounds like they've got quite the racket going there. I wasn't aware that they can even have a "put the survivors on the hook for it" option. Guess they're allowed to have their cake and eat it too. Some things just shouldn't be legal.

I hope everything works out in a manner that is acceptable for your family and you can have some closure.

 

Sorry this is off topic, definitely dealing with the same thing at least my parents are. My brother has been using for quite some time and squandered a lot from my parents. Broken into their house, stole jewelry from my grandma... What a fvcknut. Im also sorry about this situation and ive only read 2 pages of this yet. If I did this before it would be because I would want to dissolve the property and help pay for a more valuable property in return. No bank is your friend. And contracts involving any kind of property is going to have loopholes and other holes to jump through. The fine text being so damm small, this becomes true.