Reverse Mortgage Going Mainstream
The reverse mortgage isn't going away, in fact its going mainstream. There are now an abundance of providers out there to choose from, some are banks, some are reputable financial and insurance organizations now offering reverse mortgages and some are reputable local mortgage firms that have opened up or expanded shops to concentrate on this niche product.
Online Reverse Mortgage Information
Then there's the abundance of information on the reverse mortgage that can be found online. CNBC, Bankrate.com, Kiplinger's and others have made their comments known, some not so peachy and each with the story of the perils of the reverse mortgage, the obligatory comment from AARP or National Reverse Mortgage Lenders Association telling folks to do their homework. Look for a follow up set of comments on this website about why some folks look at reverse mortgages with such disparaging comments about the fees involved but do not offer up any of the significant benefits they may bring to their borrowers.
Shop around can mean a couple of things for this product. It can mean compare prices, compare interest rates but it can and should mean to find out who you are getting your product from and make sure they have the understanding of its niche role.