Comments on: Fixed-Rate Reverse Mortgage To Soon Be Available http://www.bestreversemortgage.com/reverse-mortgage/fixed-rate-reverse-mortgage-to-soon-be-available/ The Unofficial Guide to Reverse Mortgages Fri, 4 Jul 2008 03:35:44 +0000 http://wordpress.org/?v=2.0.5 by: Peter G. Miller http://www.bestreversemortgage.com/reverse-mortgage/fixed-rate-reverse-mortgage-to-soon-be-available/#comment-297 Tue, 25 Sep 2007 21:06:28 +0000 http://www.bestreversemortgage.com/reverse-mortgage/fixed-rate-reverse-mortgage-to-soon-be-available/#comment-297 No one said this was a new product, merely that it was new to a given company. Neither the term "first" nor the word "new" appear in the original post. As to how much money one can receive, that is an important point. The related issue concerns the cost of those dollars. As many borrowers are discovering, there can be significant risk and huge additional costs associated with variable-rate loan products. No one said this was a new product, merely that it was new to a given company. Neither the term “first” nor the word “new” appear in the original post.

As to how much money one can receive, that is an important point. The related issue concerns the cost of those dollars. As many borrowers are discovering, there can be significant risk and huge additional costs associated with variable-rate loan products.

]]> by: Juneboarder http://www.bestreversemortgage.com/reverse-mortgage/fixed-rate-reverse-mortgage-to-soon-be-available/#comment-295 Tue, 25 Sep 2007 20:32:16 +0000 http://www.bestreversemortgage.com/reverse-mortgage/fixed-rate-reverse-mortgage-to-soon-be-available/#comment-295 Please keep in mind, however, that this is not a new product and has been out for a while now; and FHA released this program, not Financial Freedom. It is very nice that the FHA is allowing a fixed rate, but when comparing the money you can receive with a HECM 100 or a HECM 150 to a HECM Fixed, you will find that the HECM Fixed offers the least amount of money. Please keep in mind, however, that this is not a new product and has been out for a while now; and FHA released this program, not Financial Freedom. It is very nice that the FHA is allowing a fixed rate, but when comparing the money you can receive with a HECM 100 or a HECM 150 to a HECM Fixed, you will find that the HECM Fixed offers the least amount of money.

]]> by: Peter G. Miller http://www.bestreversemortgage.com/reverse-mortgage/fixed-rate-reverse-mortgage-to-soon-be-available/#comment-289 Tue, 25 Sep 2007 03:08:36 +0000 http://www.bestreversemortgage.com/reverse-mortgage/fixed-rate-reverse-mortgage-to-soon-be-available/#comment-289 Thanks for your note. First, I have posted a number of items regarding individual lenders. It's hardly an endorsement when a posting says that prospective borrowers should "look at all rates and fees and consult with an independent attorney who specializes in elder law before signing up for any reverse mortgage product." Second, the public should know that fixed-rate ARMs are a reverse mortgage option. If a big reverse lender is putting more emphasis on fixed-rate products then that's important. Third, the creation of products with value in the secondary market means that more product will be available to borrowers. Fourth, the posting does not say that Financial Freedom is the only company to offer a fixed-rate reverse mortgage, merely that it is offering one. The point of the posting was that investors are moving away from adjustable products -- why else introduce a fixed-rate loan? Thanks for your note.

First, I have posted a number of items regarding individual lenders. It’s hardly an endorsement when a posting says that prospective borrowers should “look at all rates and fees and consult with an independent attorney who specializes in elder law before signing up for any reverse mortgage product.”

Second, the public should know that fixed-rate ARMs are a reverse mortgage option. If a big reverse lender is putting more emphasis on fixed-rate products then that’s important.

Third, the creation of products with value in the secondary market means that more product will be available to borrowers.

Fourth, the posting does not say that Financial Freedom is the only company to offer a fixed-rate reverse mortgage, merely that it is offering one.

The point of the posting was that investors are moving away from adjustable products — why else introduce a fixed-rate loan?

]]> by: Juneboarder http://www.bestreversemortgage.com/reverse-mortgage/fixed-rate-reverse-mortgage-to-soon-be-available/#comment-286 Tue, 25 Sep 2007 01:17:48 +0000 http://www.bestreversemortgage.com/reverse-mortgage/fixed-rate-reverse-mortgage-to-soon-be-available/#comment-286 I have to say that had you done your research, you would have found that a HECM Fixed has already been on the market now for several months. Any lender that offers HECM's can offer a HECM Fixed, and in no way is Financial Freedom the leader in the industry to release this product. It would be nice if the topics here could lean more towards the education of what a reverse mortgage is, how it works, etc., rather than utilizing your blog as an advertisement for a specific lender. I have to say that had you done your research, you would have found that a HECM Fixed has already been on the market now for several months. Any lender that offers HECM’s can offer a HECM Fixed, and in no way is Financial Freedom the leader in the industry to release this product. It would be nice if the topics here could lean more towards the education of what a reverse mortgage is, how it works, etc., rather than utilizing your blog as an advertisement for a specific lender.

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