Gatlinburg Real Estate Blog

There are an awful lot of exclamation marks in the title above, but I can't help it - It's just exactly how I feel. Warning: Rant Ahead... No matter how trustworthy the actors William Devane or Fred Thompson (and others) may seem, the idea of a reverse mortgage in my opinion is a truly horrible one. The companies that offer these are, I believe, preying upon elderly homeowners who for one reason or another find themselves so in need of cash that they will trade away the only significant asset that they may have left - the equity they have in the home that they live in. These companies' commercials tell how "you can get the cash that you need out of your home and remain in it for as long as you live" and technically, this may be true. However, as is always the case, if it sounds too good to be true, it probably is... While the letter of the agreement does actually read the way it sounds, the reality is all too often very different. While a borrower can get cash to...

There are an awful lot of exclamation marks in the title above, but I can't help it - It's just exactly how I feel. Warning: Rant Ahead... No matter how trustworthy the actors William Devane or Fred Thompson (and others) may seem, the idea of a reverse mortgage in my opinion is a truly horrible one. The companies that offer these are, I believe, preying upon elderly homeowners who for one reason or another find themselves so in need of cash that they will trade away the only significant asset that they may have left - the equity they have in the home that they live in. These companies' commercials tell how "you can get the cash that you need out of your home and remain in it for as long as you live" and technically, this may be true. However, as is always the case, if it sounds too good to be true, it probably is... While the letter of the agreement does actually read the way it sounds, the reality is all too often very different. While a borrower can get cas...