I just added a free PDF special report about the infamous “Reverse Mortgage”.
There are finance companies that are offering the “Reverse Mortgage” to seniors (at least age 62). Seniors with a substantial amount of equity in their residence are targets of this aggressive predatory loan. There are many “celebrities” who claim a reputation for financial literacy that are peddling this nonsense loan on television and the internet. I doubt they have done their “home work” on analyzing this stupid predatory loan.
Yes, I said it. A “Reverse Mortgage” is a stupid predatory loan. It preys on the elderly, who are mostly financially illiterate. The borrowers are stupid and the lenders are predators. Here are my reasons:
You can download the full report by clicking here.
This report ties into my “Introduction to Income Valuation and Syndication” course that you can find at http://bit.ly/itivas-1. That course explains how to be a professional syndicator to get paid to buy income property using Other People’s Money.