- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Thinking of a Reverse Mortgage
Posted on 10/10/23 at 8:03 pm to Oneulus
Posted on 10/10/23 at 8:03 pm to Oneulus
You're looking at borrowing at 8-10% APR to pay a 3.25% mortgage and interest free tax/insurance.
Unlike a regular loan you dont gradually pay it down. Instead you gradually borrow more each month and the debt and interest compound.
I would consider it as only a near last resort especially at current rates.
What is your monthly cash flow? Are you depleting savings/investments at an unsustainable rate?
Unlike a regular loan you dont gradually pay it down. Instead you gradually borrow more each month and the debt and interest compound.
I would consider it as only a near last resort especially at current rates.
What is your monthly cash flow? Are you depleting savings/investments at an unsustainable rate?
1
Posted on 10/11/23 at 8:23 am to TorchtheFlyingTiger
quote:
Unlike a regular loan you dont gradually pay it down
You realize you can pay the payment or the loan down whenever you want
Does this board not realize the loan is a HELOC on steroids
And no one has an issue with that loan despite it being the worst
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News