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Reverse Mortgage Massachusetts – How Does a Reverse Mortgage Work?

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Reverse Mortgage Massachusetts – Highest Rated?

A simple narration and drawing for an explanation of how a reverse mortgage works by structure. Explains the different aspects of a reverse mortgage in general terms. Please note this is for educational purposes only and you should consult with an agent to assess your personal needs.

Thank you to Jeffrey Bangerter of WSB Mortgage Services for the content of the video. Please subscribe to his channel!

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21 Comments

  1. Aaron Gatti
    July 31, 2021 at 7:08 am

    Im more confused now than i was before 🤯🤯🤦‍♂️

  2. The Yees
    July 31, 2021 at 7:08 am

    Please all do not do a reverse mortgage! Scams!!

  3. wake up
    July 31, 2021 at 7:08 am

    This video explained it pretty well,,,
    DON'T DO IT!

  4. Alisha Antil
    July 31, 2021 at 7:08 am

    Sir please reply that can we go ahead with the decision of taking reverse mortgage loan from https://www.bajajfinserv.in/what-is-reverse-mortgage

  5. C P
    July 31, 2021 at 7:08 am

    Using this example, with an assumption of 5% interest and $1000 monthly income, the equity will only last 3.5 years. No wonder 18% of reverse mortgages fail and people can't even keep up with taxes and insurance. The shaded boxes are WAY off scale. Assuming closing costs are $10,000 and $50,000 is used to pay off the original mortgage, 42% of his lower house would be shaded in.

  6. Alisha Antil
    July 31, 2021 at 7:08 am

    sir my grand parents have taken the reverse mortgage loan from https://www.bajajfinserv.in/what-is-reverse-mortgage is this correct decision of there?

  7. Josue Martinez
    July 31, 2021 at 7:08 am

    🇺🇸🇺🇸BIDEN 2020 BIDEN 2020🇺🇸🇺🇸

  8. mark dixon
    July 31, 2021 at 7:08 am

    Nice little trick I’ve learned. Reverse mortgage lenders can offer you credits. (thousands of dollars off your closing cost) Generally these credits will be offered when you take the first year as a lump sum of the line of credit. They give you these credits because you have taken the first year as a lump sum and they will make interest in all that money over time. But the trick is, most folks don’t know, after your loan has been set up and you receive your lump sum, turn around and put that money all back into your reverse Mortgage line of credit. Now you’ve received nice credits from the lender and you’re not paying interest on all that first year’s money because you put it back into the line of credit. Remember, lenders don’t like this understandably, but it’s all legal and it’s your money and you have that right. Nothing they can do to stop you.
    Just make sure you don’t tell them your intention, they will probably not want to do business with you if you tell them in advance of closing.

  9. Rhyno Souris
    July 31, 2021 at 7:08 am

    Here's how it works. The bank buys your $300,000 house and they let you live in it. BUT they're only going to pay you $220,000 for your house. AND you have to pay them another $12,000 to buy your house. AND you have to pay the interest on their loan to buy your house. AND you have to pay insurance on the bank's loan. AND if you run out of money to pay property taxes, utilities, or various bank fees, the bank takes your home away and kicks you out into the street

  10. xin sung
    July 31, 2021 at 7:08 am

    How do I get more information?

  11. Chan Bruce
    July 31, 2021 at 7:08 am

    My father got his reverse mortgage from hiltoefinance @ gmailcom without issues and problems.P:S this is not a bot

  12. Edwizard62
    July 31, 2021 at 7:08 am

    I need to find another Simple Reverse Mortgage video. You lost me at "First off"…

  13. Debbie L
    July 31, 2021 at 7:08 am

    You totally lost me in the first sentence…..

  14. Josue Martinez
    July 31, 2021 at 7:08 am

    Huh??? Im going to see a different video

  15. simeon smith
    July 31, 2021 at 7:08 am

    Avoid reverse mortgage: search "reverse mortgage lawsuits". Lenders love to sue the elderly; drag their ass into court, cause the poor to spend $$$ defending themselves; make life worse than it was.

  16. newyorkslim
    July 31, 2021 at 7:08 am

    Terrible explanation.

  17. AK Price
    July 31, 2021 at 7:08 am

    The name Reverse Mortgage seems like a misnomer to me. Hearing it, I would think that after years of paying a mortgage and paying off your house, you can sign up for a reverse mortgage and the bank will start making payments to you. Once the bank pays you the total value of the equity built up then they own the house. At that point you have the option of buying the house back or moving somewhere else but these option are not available to you because you would be dead by then. The truth is that an reverse mortgage is more darker than that. Its basically a high interest equity loan with no sign up fee. Enter at your own risk.

  18. John Micheal
    July 31, 2021 at 7:08 am

    Rip off fuck you , your evil and you will get what you deserve , we are watching what your doing

  19. Andrew H
    July 31, 2021 at 7:08 am

    This should be an option of absolute last resort. It would be better to sell the house and downsize.

  20. John M
    July 31, 2021 at 7:08 am

    Seems like a scam still to me, while the lender might not "own" the house, chances are, after funeral costs, spending before whomever died, ect. I'd be willing to bet the homeowner most likely wouldn't have all the money loaned to pay off the lender. So correct me if I'm wrong, but wouldn't the lender then be able to claim the house because it's being forclosed?

  21. Audrie
    July 31, 2021 at 7:08 am

    CHRIS HANSEN IS THAT U