PJ's Reverse Mortgage Blog

I am always getting the questions about high closing costs.  The HECM product has the FHA insurance of 2% in the closing costs, but it is well worth it because this is now the only reverse mortgage available. 

But the real question is, what else is there that compares AT ALL?  Any other source of home equity loan requires the borrower to make monthly payments and qualify.

If you consider that the cost are spread over the life of the loan then I don't see that it is that big an issue.

More tomorrow. PJ