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Politics : Bill Clinton Scandal - SANITY CHECK -- Ignore unavailable to you. Want to Upgrade?

To: pezz who wrote (7334)	10/5/1998 7:45:00 PM
From: Lady Lurksalot	Read Replies (1) \| Respond to of 67261

Pezz, Good to hear you did your homework on reverse mortgages. Questions that come to my mind are: Are these loan fees added to the mortgage or are they paid up front? In the event the house has to be sold to satisfy the debt, who sets the selling price? Does the mortgage company pocket all profits from their sale of the property, or does some of the money flow back to the owner's estate. What advantages does a reverse mortgage hold over an equity line of credit or a straight-forward refinance or a secondary (junior) mortgage (trust deed in California). Fiscal conservative that I am, I would consider a reverse mortgage only as a last resort in an emergency situation. Holly