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Hi to all,

R

Rich123

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Just thought I would introduce myself. My name is Richard I live in rural community in Upstate New York. I was born and raised in southern New Hampshire but did live for eleven years in Brooklyn New York after completion of my military duty. My wife and I decided to move upstate after eleven years of living in Brooklyn where she was raised. It was a good move for us both. She would never go back, her words. Well I wont bore you anymore about me. Wasn't sure if this is how I should introduce myself but I did it anyway.

I have a question to ask anyone who may know. Does anyone have anything they might want to share with me about reverse mortgages? Good or Bad. I don't want to rely on testimonies that the industry supplies. Would very much appreciate your input.
Thanks,
Richard :2wave:
 
Rich123 said:
Just thought I would introduce myself. My name is Richard I live in rural community in Upstate New York. I was born and raised in southern New Hampshire but did live for eleven years in Brooklyn New York after completion of my military duty. My wife and I decided to move upstate after eleven years of living in Brooklyn where she was raised. It was a good move for us both. She would never go back, her words. Well I wont bore you anymore about me. Wasn't sure if this is how I should introduce myself but I did it anyway.

I have a question to ask anyone who may know. Does anyone have anything they might want to share with me about reverse mortgages? Good or Bad. I don't want to rely on testimonies that the industry supplies. Would very much appreciate your input.
Thanks,
Richard :2wave:
Click to expand...

I personally think they are a disgrace. No one is going to enter into an agreement unless they expect to make money, in this case a nice gain instead of the persons heirs. Better off doing a cash out refi. You can still sell and down size if needed. I would have to see the specific terms but in general I consider them a ripoff. CPA by trade, worked for one of the largest banks in the US for 17 years. Currently with a credit union. We don't do reverse mortgages. BTW, welcome. I'm in the Hudson Valley, probably not as far up as you.
 
Rich123 said:
Just thought I would introduce myself. My name is Richard I live in rural community in Upstate New York. I was born and raised in southern New Hampshire but did live for eleven years in Brooklyn New York after completion of my military duty. My wife and I decided to move upstate after eleven years of living in Brooklyn where she was raised. It was a good move for us both. She would never go back, her words. Well I wont bore you anymore about me. Wasn't sure if this is how I should introduce myself but I did it anyway.

I have a question to ask anyone who may know. Does anyone have anything they might want to share with me about reverse mortgages? Good or Bad. I don't want to rely on testimonies that the industry supplies. Would very much appreciate your input.
Thanks,
Richard :2wave:
Click to expand...

Did the transition feel anything like the movie Baby Boom?

WELCOME

127fs1601347.gif
 
Rich123 said:
Just thought I would introduce myself. My name is Richard I live in rural community in Upstate New York. I was born and raised in southern New Hampshire but did live for eleven years in Brooklyn New York after completion of my military duty. My wife and I decided to move upstate after eleven years of living in Brooklyn where she was raised. It was a good move for us both. She would never go back, her words. Well I wont bore you anymore about me. Wasn't sure if this is how I should introduce myself but I did it anyway.

I have a question to ask anyone who may know. Does anyone have anything they might want to share with me about reverse mortgages? Good or Bad. I don't want to rely on testimonies that the industry supplies. Would very much appreciate your input.
Thanks,
Richard :2wave:
Click to expand...

Welcome, Rich! I wish I could help you with the reverse mortgages but all I know is what William Devane says on TV. Again welcome!
 
Welcome aboard. :2wave:
 
Hari Seldon said:
I personally think they are a disgrace. No one is going to enter into an agreement unless they expect to make money, in this case a nice gain instead of the persons heirs. Better off doing a cash out refi. You can still sell and down size if needed. I would have to see the specific terms but in general I consider them a ripoff. CPA by trade, worked for one of the largest banks in the US for 17 years. Currently with a credit union. We don't do reverse mortgages. BTW, welcome. I'm in the Hudson Valley, probably not as far up as you.
Click to expand...

Thank you very much for that information. If it sounds too good, well it probably is too good. Howdy Neighbor:2wave:
 
Hawkeye10 said:
Did the transition feel anything like the movie Baby Boom?

WELCOME

127fs1601347.gif
Click to expand...

That's a movie I haven't seen yet. I'll check it out. I upstate was a compromise. Country for me ,city close by for her. But now she loves it in the sticks. Whoopy!:2wave:
 
Emily L said:
Welcome, Rich! I wish I could help you with the reverse mortgages but all I know is what William Devane says on TV. Again welcome!
Click to expand...

Thanks anyway. William Devane too? Henry Winkler, Tom Selleck . They are selling these products.:2wave:
 
Tried to reply to everyone as individuals. I'm still figuring this stuff out. Hope I didn't slight anyone.:2wave:
 
Welcome aboard Rich123 :peace
 
Rich123 said:
Just thought I would introduce myself. My name is Richard I live in rural community in Upstate New York. I was born and raised in southern New Hampshire but did live for eleven years in Brooklyn New York after completion of my military duty. My wife and I decided to move upstate after eleven years of living in Brooklyn where she was raised. It was a good move for us both. She would never go back, her words. Well I wont bore you anymore about me. Wasn't sure if this is how I should introduce myself but I did it anyway.

I have a question to ask anyone who may know. Does anyone have anything they might want to share with me about reverse mortgages? Good or Bad. I don't want to rely on testimonies that the industry supplies. Would very much appreciate your input.
Thanks,
Richard :2wave:
Click to expand...

You have a nice way about you! Welcome to DP! I totally agree with Hari (Post #2) regarding Reverse Mortgages. If they suit anyone, I think they suit people in the last few years of their lives and not particularly concerned with leaving an estate to heirs.
 
Rich123 said:
Just thought I would introduce myself. My name is Richard I live in rural community in Upstate New York. I was born and raised in southern New Hampshire but did live for eleven years in Brooklyn New York after completion of my military duty. My wife and I decided to move upstate after eleven years of living in Brooklyn where she was raised. It was a good move for us both. She would never go back, her words. Well I wont bore you anymore about me. Wasn't sure if this is how I should introduce myself but I did it anyway.

I have a question to ask anyone who may know. Does anyone have anything they might want to share with me about reverse mortgages? Good or Bad. I don't want to rely on testimonies that the industry supplies. Would very much appreciate your input.
Thanks,
Richard :2wave:
Click to expand...

Welcome to DP!

Your question about reverse mortgages is very fact specific. Be very careful if you are thinking about it.
I would find a neutral party not someone selling the product to ask questions about what you want to do.

The Real Cost of Reverse Mortgages
https://www.caring.com/articles/reverse-mortgage-costs

Surprise! Reverse Mortgages Are Very Confusing
Reverse Mortgages Have High Fees and Complex Terms, CFPB Report Shows ? AARP
 
I've heard reverse mortagages are so tricky you are required to meet with a government rep first to be sure you know what you are getting into.
 
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