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re: Thinking of a Reverse Mortgage
Posted on 10/11/23 at 11:54 am to SDVTiger
Posted on 10/11/23 at 11:54 am to SDVTiger
Perhaps I don't get how the loan works. Thus, I asked you to enlighten. Wasn't trying to start pissing match.
Am I wrong that interest will accrue on any proceeds at 8-10% APR and the balance typically is left to compound? I've also read there are usually high fees and a mortgage insurance element but don't know enough to comment further. Can you dispel that concern? Legit would like to learn other perspective/use case for sake of elderly relatives that may consider RM and for OP.
Am I wrong that interest will accrue on any proceeds at 8-10% APR and the balance typically is left to compound? I've also read there are usually high fees and a mortgage insurance element but don't know enough to comment further. Can you dispel that concern? Legit would like to learn other perspective/use case for sake of elderly relatives that may consider RM and for OP.
This post was edited on 10/11/23 at 12:48 pm
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