Security 1 Lending announced a no cost reverse mortgage this week. Finally we have a product that Financial Planners and Estate Planners will love. This product is ideal for the Standby Reverse Mortgage that homeowners can use in their Wealth Management strategy.
Homeowners will be required to pay for their HUD counseling ($125) and $300 for partial payment of the appraisal but the rest is zero cost. They must also activate their account by taking $50 at closing. Seems so simple.
The best part is the growth rate of this no cost reverse is awesome. You will have to call me for details. You can reach me at 510.701.2167 or email me at Marty@MartyAppel.com
I have also put a link here for you to look at another view of reverse mortgages. It is published in the Wall Street Journal by The Experts. The Experts are a group of industry, academic and cultural thinkers who weigh in on the latest debates in The Journal Report. Check it out.