Reverse Mortgage Myths
The Myth:
The bank owns the house.
The Truth:
Wrong, you own it and your heirs will inherit it.
The Myth:
The home must be free and clear.
The Truth:
Wrong, but you must have considerable equity to qualify.
The Myth:
When it's time to repay the reverse mortgage, the bank sells the home.
The Truth:
Wrong, as long as there equity in the house, you or your heirs can sell it.
Tommy - Los Angeles
"I wasted a year trying to get a reverse mortgage from one of the big banks. David met with me and within a few minutes explained in plain English why I was having problems and how to solve those problems. David and LibertyStreet got the job done for me and their follow through was tremendous."