Mortgage Loan

Will not get a Reverse Mortgage. Do THIS rather!





– Will not get a Reverse Mortgage. Do THIS rather! (5 Options to a Reverse Mortgage.) Indication up for your Free of charge Guideline to Serious Estate Investing on this and several other Serious Estate matters mentioned and backed with twenty five decades of knowledge at

New YouTube video clips nearly day by day!

Facebook Website page:

Facebook Profile:

Twitter:

LinkedIn:

Voxer: jmsp78607

resource

28 comments

  1. Wait , first you’re against reverse mortgage. How are you qualified?

    Reply
  2. When would it be a good time to reverse mortgage or is it always a bad idea?

    Reply
  3. 3:27

    Reply
  4. Plz don’t do it at all you guys I just lost my home and no help from no one I don’t have money to get A real estate attorney. So we are homeless now live ING with fam don’t do it plzzzzzzzxzxxxxxxzz

    Reply
  5. Can one get a HELOC without an income or low FICO score. HECM loans don't have such restrictions

    Reply
  6. This video makes absolutely no sense. Most all of the alternatives above require an ADDITIONAL payment. Thevmain advantage of a reverse mortgage is that your mortgage payment goes away. Duh. The person above has no idea what she's talking about.

    Reply
  7. thank you! but, home equity you need to have income to qualify?..

    Reply
  8. Julia, great videos! Thanks!

    Reply
  9. Hi Julia as the market grows and if you do improvements .Will that increase equity while you're in a reverse mortgage. Or will anything more be set aside .Like I want to put a pool in and run a business from my house. I drive trucks now but I want to do this in ayear something like that. Oh yea I'm an Artist the business will be around that.

    Reply
  10. You clearly have no idea what the real issue is in regards to why people take out a reverse mortgage in the first place. It's because unlike you, mommy and daddy didn't leave them a trust fund or an entire real estate portfolio. Which I can tell is the case with you. But let's be more clear here.

    A reverse mortgage is a TOOL. Not some scam. And the reason people can't do the things you are suggesting in your infinite wisdom is because they can't afford to. Guess what comes with a HELOC….a PAYMENT. So the people who already are scraping by each month on fixed incomes don't want yet ANOTHER payment to pay Each Month.

    Secondly, Since when can you sell a home to your children and they can take out 100% financing on that? In your example if the home is worth 200k just sell it to a kid who takes the risk on themselves, finances the full amount and hands you the money. Newsflash lady. The minimum down payment amount on an investment property is 25%. Most people Don't have that.

    All I'm hearing is a bunch of ridiculous "advice" based on ZERO actual knowledge of mortgages or real world reasons people take them out in the first place. I also saw your other video where you say "the bank forecloses on the home when you die". NO, they don't. Man I can't stand people who talk completely out of their a$$ as if they are experts.

    My Grandfather is in a reverse mortgage and simply pays half of what his previous Mortgage payment was in order to keep the balance down. And if something comes up, he doesn't have to make a payment at all. But, he is smart enough to know how to utilize the tool that one is. You talk as though you have ANY idea how these products work when in fact, you don't.

    And YES, I used to be a mortgage professional, before you ask.

    Reply
  11. Stop giving financial and or real estate advice…. you don't know what your talking about. this is why people who need a reverse don't take one, because people like you spew fake nonsense.

    Reply
  12. home equity you need to have income to qualify. If you've just retired, I imagine your income will be low. And thus you won't qualify.

    Reply
  13. Content starts at 3:15

    Reply
  14. Was waiting for this to start on the five points… after 2mins of self promotion got bored and skipped away

    Reply
  15. Take a little chunk of vast funds and buy a nice tripod for the camera.

    Reply
  16. The suggested alternatives are worse than the reverse mortgage CONCEPT. But, a great idea has been TURNED INTO a scam by greedy banks! The main problem is that the interest rates are much higher than a standard mortgage, when the opposite should be so. That is because risk of default because of job loss is high, while RMs are fully backed by the paid-for house. The reverse mortgages here in Canada are structured so that defaults are almost impossible…. The maximum fraction of your house value you can take out is based on your age. They calculate how much principal and compounded interest can possibly accumulate if you die at a ripe old age, and that is your loan limit. You are contractually promised never to be forced to sell. Furthermore, there is a government program that allows you to defer property taxes after age 55 until sale or death, and the interest rate is tiny, currently below 1%. For people with no heirs, this is all ideal, and for heirs, they INHERIT a house that has an accumulated debt. Not a tragedy either.

    Reply
  17. Refinance 100% of the equity out of the property? That's false – 80% is the max. And the problem with a C/O refi, HELOC or home equity loan for most seniors is lack of income. Even if they'd qualify for one of these, they'd be in a lot more danger of losing their homes with them than with a reverse mortgage, where they'd only need to pay taxes and insurance. Alternative 5 could of course work in some situations, and I expect a lot of families choose this option, but it certainly won't work for every family and senior. This lady seems to know about as little about family dynamics as she does real estate finance or financial hardship.

    Reply
  18. Are you serious? You obviously have never investigated a Reverse Mortgage at all. This the same as fake news as the alternatives are not the best alternatives at all for someone in a financial crunch. Shame on you for putting bogus information out here to confuse our seniors even more than they are.

    Reply
  19. Oh brother. You are not an expert in reverse mortgages so stop giving such bad information. You are wrong on all levels.

    Reply
  20. I put my mom on one and it has worked like a charm for her. She is independent from me and my siblings like she wanted to be after my dad passed away. I know others who have gotten reverse mortgages and everyone I know loves them. It may not be for everyone,l but if you or your parents need retirement funding, the reverse mortgage is a fantastic option. Home Equity Lines of Credit require payments so if someone is on a fixed income, the Reverse Mtg is a great option. dont listen to the naysayers!

    Reply
  21. Qualifying for a refi, HELC or Home equity loan is not an option for many (most) elderly people on a fixed retirement income. These loans also require a monthly payment. Of course you want the kids to sell the home- you are a real estate agent. Why would you want to sell your home to your kids when you will have to pay capital gains and your kids will be giving up the stepped up cost basis they would get if it were inherited instead ????????

    Reply
  22. This is all USELESS garbage.  Any of her five options means paying payments plain pure and simple.  Elderly get reverse mortgages so they can have credit lump sum of money or payments to them without paying any payment for as long as they live.  These so called options she speaks of having nothing to do with what a reverse mortgage is at all but would be that of merely acquiring another DEBT.  She has no more knowledge than some secretary that answers the phone for a real estate office.  Her babble would be same as me saying to a elderly SS receiving person that needed their brakes fixed on their car to go finance a new car as an option to avoid a brakes repair bill.  She is as ridiculous as my example

    Reply
  23. Too much chatter

    Reply
  24. Boy…..thanks for the tour

    Reply
  25. Love Germany,like to visit myself

    Reply
  26. Hi Julia, Options 1-3 are good if you have a good income and can make payments on what you borrow. You still have interest that has to be paid as well. Number 5 seems to be the best overall option.
    I know of someone who has a reverse mortgage that used the money to invest in condo and is making decent money off of that. So maybe there are some good reasons to get a reverse mortgage for some people. Depending on your situation.. Would like to see you do a video that would list a few good reasons to get one…Anyway thanks for posting the video.

    Reply
  27. Hi why is your accent more new York City than German? Just wondering, p,s, where can I get a loc, on investment properties paid off, (not primary,) with low interest rate, to buy investment property in FLA?? Let's talk about it over coffee in Chiang Mai …. Pss will you be a bank to me, for a flip I want to do very solid purchases, I'm experienced, per your approval.and review,, first/only lien, and also a good guy discount,(no points) ??

    Reply
  28. I live in Fl do you know a bank to do Heloc here?

    Reply

Leave a Reply