The reason many lenders avoid talking about the cost of a reverse mortgage is because of the mortgage insurance premium (MIP) that you have to pay. That's too bad because it's the MIP that allows the federal government to back reverse mortgages. Without it, Federally backed reverse mortgage would not exist.
For a full explanation of the costs of a reverse mortgage and an explanation of the pros and cons just give me a call at 818-522-5018,
Regards,
Richard Hersh
Clear Loan, The most transparent loan you'll ever see.
Clear Loan is dedicated to removing all the uncertainty surrounding the home loan experience.
All information pertaining to your loan, including costs, will be disclosed prior to the collection of your personal information.
