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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Chen who wrote (1057)	11/15/2001 12:10:18 PM
From: Les H	Read Replies (1) \| Respond to of 306849

Reverse Mortgages Reverse mortgages are expected to boom over the next five years, particularly among seniors. According to Fannie Mae, the big secondary mortgage company, over a million seniors could take advantage of this relatively uncommon loan, which actually involves getting money back from your loan provider to use however you choose. Fannie Mae wants consumers to understand what they are getting into, especially to know how to recognize pressure sales tactics. Those payments may seem very tempting but don't let anyone fast-talk you into a reverse mortgage, not even friends or relatives. Make sure that payments are made out directly to you--don't sign the money over to anyone else. Remember that it's totally up to you how you spend the money. Just because you heard about a reverse mortgage program from a remodeling company or someone trying to sell investment products, doesn't mean you have to purchase their services.