Reverse Mortgage Dangers: The Pros, Cons, Drawbacks, Downside and Disadvantages

Overview

Mortgage matters are a prime driver of today's economy. Getting a mortgage with favorable terms is the goal of almost every American.

Jim Anderson has been a licensed Mortgage Loan Originator in his own mortgage company for fifteen years, specializing in Reverse Mortgages. A graduate of The Real Estate Institute, he has taught the nuances of different types of mortgages as a major Realtor- Board Education-Chairman. A published author since 1970, he has written dozens of books ...

See more details below
Paperback
$13.61
BN.com price
(Save 8%)$14.93 List Price
Other sellers (Paperback)
  • All (9) from $10.78   
  • New (6) from $10.78   
  • Used (3) from $10.95   
Sending request ...

Overview

Mortgage matters are a prime driver of today's economy. Getting a mortgage with favorable terms is the goal of almost every American.

Jim Anderson has been a licensed Mortgage Loan Originator in his own mortgage company for fifteen years, specializing in Reverse Mortgages. A graduate of The Real Estate Institute, he has taught the nuances of different types of mortgages as a major Realtor- Board Education-Chairman. A published author since 1970, he has written dozens of books and articles and was published in the prestigious Leaders magazine sent to Heads of State and corporate CEOs.

He presently owns a mortgage refinancing company. His pet peeve is that seniors in particular are often taken advantage of financially by mortgage companies when discussing their home mortgage. He believes that reverse mortgages in particular are sold to seniors as the "best thing ever", and are anything but. Risking his career to help seniors avoid making a costly mistake, Anderson wrote Reverse Mortgage Dangers as a daring warning. Seldom are senior citizens given all possible negatives of this "free no-risk money", and told the many pitfalls they must seriously consider before signing anything.

"Sometimes a reverse mortgage is a good idea, but most often it is not", declares Anderson. He explains the pros, cons, pitfalls, drawbacks and disadvantages of this poorly-understood financial instrument. This unique book explains the many secrets of this highly-touted "safe and secure free seniors' money" , covering scams, frauds, and other problems. Is a senior's reverse mortgage ever a good idea? Is it a banking scheme or a government blessing? This unique fact-filled book has all the remarkable useful answers.

Residential mortgages of the "forward" variety have for years led the market. But as our population ages, and more individuals reach the magic "62 years" switching out of conventional loans to home equity conversion loans (HECMs) has become a major financial planning tool.

Getting a mortgage of any type requires serious study and comparison shopping. Mortgage brokers are not created equal! Mortgage loans come in all flavors. Morrtgage payments can vary greatly.

Mortgage related issues will always be of primary importance to every consumer seeking the American dream.

Read More Show Less

Product Details

  • ISBN-13: 9781893257511
  • Publisher: Lion's Pride Publishing Company
  • Publication date: 6/28/2012
  • Edition number: 2
  • Pages: 86
  • Sales rank: 711,256
  • Product dimensions: 6.00 (w) x 9.00 (h) x 0.18 (d)

Meet the Author

Jim has been a licensed Loan Originator for fifteen years, specializing in Reverse Mortgages. A graduate of The Real Estate Institute, he has taught the nuances of Reverse Mortgages as a Realtor- Board Education-Chairman. A published author since 1970, he has written eleven books and was published in Leaders magazine, sent to heads of state and corporate CEOs. He presently owns a Reverse Mortgage company.
His pet peeve is that seniors are often taken advantage of financially. He believes that Reverse Mortgages are sold to seniors as the "best thing ever", and are anything but.
Married thirty years to his beautiful wife Melanie, he has four children and two grandchildren. Jim and Mel live on a ranch in the High Sonoran Desert with their two great pups.
Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)