http://www.bestreversemortgage.com/another-tale-of-woe/ The Unofficial Guide to Reverse Mortgages Mon, 06 Feb 2012 06:43:48 +0000 http://wordpress.org/?v=2.9.1 hourly 1 http://www.bestreversemortgage.com/another-tale-of-woe/comment-page-1/#comment-2146 sanderson Sat, 19 Jan 2008 16:06:20 +0000 http://www.bestreversemortgage.com/reverse-mortgage/another-tale-of-woe/#comment-2146 Exactly....Annuities should not be sold when doing a reverse mortgage. The credit line growth is a great feature of the loan and there is no reason to buy an annuity. I agree it should be stopped and what also should be stopped is reporters who report this type of news as though the 2 transitions go hand in hand. The purchase of an annuity is not necessary to obtain a reverse mortgage. The negative part of the story always has to do with the annuity and not the reverse mortgage. Rm's are a great way for seniors to access equity in the home without having to make a payment or the loan needing to be paid back until such time as the borrowers no longer lives in the home as their primary residence, vacates the home for 12 consecutive months, or passes away. Exactly….Annuities should not be sold when doing a reverse mortgage. The credit line growth is a great feature of the loan and there is no reason to buy an annuity. I agree it should be stopped and what also should be stopped is reporters who report this type of news as though the 2 transitions go hand in hand. The purchase of an annuity is not necessary to obtain a reverse mortgage. The negative part of the story always has to do with the annuity and not the reverse mortgage. Rm’s are a great way for seniors to access equity in the home without having to make a payment or the loan needing to be paid back until such time as the borrowers no longer lives in the home as their primary residence, vacates the home for 12 consecutive months, or passes away.

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