Actually my mother did the reverse mortgage and she came out quite ahead....AEA wrote:What pre-paid Legal service did you have before this renewal?SkipB wrote: (Oct 20, 2011) My wife and I did our renewal on Oct.25th. At the end of the class this program was offered to us. We bought it. Having a lawer on call to represent you in case you need one seems to be a good thing to me.
What made you think you needed anything if you didn't have a service during your previous license period?
Do you own a timeshare?
Are you considering a Reverse Mortgage?
Do you have AARP Health Insurance?
Beginning to see my point here?
She had refinanced her home to get some needed cash. She now owed $20,000 on the refi plus $12,000 on the orignal note, on a house that would not have brought $40,000 in her neigborhood. HUD did a reverse mortgage, giving her $28,000 for her house AND paying off her note. Paid to have all new storm windows, paint, insullation and she would get to love there no charge until she decided to move or died. Depending on the situation, they can be a God-send.