tag:blogger.com,1999:blog-5541055010782819626.post5721615937122834403..comments2023-05-16T02:56:06.448-07:00Comments on Journal of Humanitarian Affairs: Financial experts warn of the pitfalls in reverse mortgagesAnonymoushttp://www.blogger.com/profile/03367247306183212060noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5541055010782819626.post-8052499594115899462015-05-15T07:07:55.816-07:002015-05-15T07:07:55.816-07:00Reverse mortgage is beneficial but it is very risk...Reverse mortgage is beneficial but it is very risky. There are also some people who provide false advertising in order to lure potential borrowers. But by undergoing counseling first, potential borrowers can receive expert advice and thus can take full advantage of reverse mortgage. This is actually required for people who are considering reverse mortgage since they will be involving their most valuable property. It is stated in <a href="http://www.revmortgage.org/guides/steps-in-getting-reverse-mortgage/counseling/" rel="nofollow">http://www.revmortgage.org/guides/steps-in-getting-reverse-mortgage/counseling/</a>, that reverse mortgage counseling provides protection to consumers since it gives them all the essential information they need before they push through with their application. Counseling fee is around $12-$250 per session but this can be waived due to financial grants.<br /><br />Senior citizens who need additional money will definitely find reverse mortgage as a sound source of funds. However, they need to understand this first in order to make a sound loan decision.Anonymoushttps://www.blogger.com/profile/06121800196040232896noreply@blogger.com