Comments on: Reverse Mortgages: Destined to be the Next Subprime Meltdown? http://www.gatherlittlebylittle.com/2009/06/reverse-mortgages-destined-to-be-the-next-subprime-meltdown/ Proverbs 13:11 - "...he who gathers money little by little makes it grow." Sat, 21 Nov 2009 03:27:42 -0400 hourly 1 By: MyJourney http://www.gatherlittlebylittle.com/2009/06/reverse-mortgages-destined-to-be-the-next-subprime-meltdown/comment-page-1/#comment-10080 MyJourney Mon, 15 Jun 2009 15:57:31 +0000 http://www.gatherlittlebylittle.com/?p=1672#comment-10080 @ Work from Home, If the product wasn't useful to someone out there, it wouldn't exist. Reverse mortgages may provide a senior with steady (partially insured) income for the rest of their life, and the company can not then go and foreclose on the home (like with a regular mortgage option you assumed correct). No, I do not work for a reverse mortgage company, I am just saying learn before you bash. @ Work from Home,

If the product wasn’t useful to someone out there, it wouldn’t exist.

Reverse mortgages may provide a senior with steady (partially insured) income for the rest of their life, and the company can not then go and foreclose on the home (like with a regular mortgage option you assumed correct).

No, I do not work for a reverse mortgage company, I am just saying learn before you bash.

]]> By: Chris Leow http://www.gatherlittlebylittle.com/2009/06/reverse-mortgages-destined-to-be-the-next-subprime-meltdown/comment-page-1/#comment-10079 Chris Leow Mon, 15 Jun 2009 07:07:44 +0000 http://www.gatherlittlebylittle.com/?p=1672#comment-10079 Well I don't know much about America, but we in Malaysia are booming thanks to China ! We in Malaysia are enjoying high growth and high inflation, I do not understand all this complaining. We have to thank China for our strong growth as our economy was going down until March 2009 and China rescued us by buying our commodities. Currently there is strong job market, 2 jobs for every worker, we have to import in foreign labour to do jobs that locals do not want to do ! We have high inflation, an example is a local dessert called "cendol" selling for $1.20 in local currency a month ago, is now selling for $ 1.80 in local currency. Thats a hefty increase, so don't complain, enjoy the boom ! Well I don’t know much about America, but we in Malaysia are booming thanks to China ! We in Malaysia are enjoying high growth and high inflation, I do not understand all this complaining. We have to thank China for our strong growth as our economy was going down until March 2009 and China rescued us by buying our commodities. Currently there is strong job market, 2 jobs for every worker, we have to import in foreign labour to do jobs that locals do not want to do ! We have high inflation, an example is a local dessert called “cendol” selling for $1.20 in local currency a month ago, is now selling for $ 1.80 in local currency. Thats a hefty increase, so don’t complain, enjoy the boom !

]]> By: Workin' from Home http://www.gatherlittlebylittle.com/2009/06/reverse-mortgages-destined-to-be-the-next-subprime-meltdown/comment-page-1/#comment-10078 Workin' from Home Sun, 14 Jun 2009 18:35:51 +0000 http://www.gatherlittlebylittle.com/?p=1672#comment-10078 "But these unique loans remain an effective and at times essential financial option for seniors across the country – and they’re proving more popular than ever." Why don't you just have the Big, Bad Wolf guest post about the glories of little girls carrying picnic baskets alone in the woods? A reverse mortgage is a terrible financial product unless you are the one selling it. Seniors would be better off to get a regular mortgage and make payments out of the loan proceeds. “But these unique loans remain an effective and at times essential financial option for seniors across the country – and they’re proving more popular than ever.” Why don’t you just have the Big, Bad Wolf guest post about the glories of little girls carrying picnic baskets alone in the woods? A reverse mortgage is a terrible financial product unless you are the one selling it. Seniors would be better off to get a regular mortgage and make payments out of the loan proceeds.

]]> By: Weekly Round Up | Master Your Card http://www.gatherlittlebylittle.com/2009/06/reverse-mortgages-destined-to-be-the-next-subprime-meltdown/comment-page-1/#comment-10081 Weekly Round Up | Master Your Card Sun, 14 Jun 2009 05:06:18 +0000 http://www.gatherlittlebylittle.com/?p=1672#comment-10081 [...] glblguy @ Gather Little By Little asks whether or not reverse mortgages will be the next subprime meltdown. This is an interesting question, in my opinion. I’ve never been a big fan of these, though I [...] [...] glblguy @ Gather Little By Little asks whether or not reverse mortgages will be the next subprime meltdown. This is an interesting question, in my opinion. I’ve never been a big fan of these, though I [...]

]]> By: DRamon http://www.gatherlittlebylittle.com/2009/06/reverse-mortgages-destined-to-be-the-next-subprime-meltdown/comment-page-1/#comment-10082 DRamon Sat, 13 Jun 2009 18:37:56 +0000 http://www.gatherlittlebylittle.com/?p=1672#comment-10082 What I have seen is that seniors are uable to sell their houses in this bad market and so take out a reverse loan. I wonder what happens to a young senior if they outlive their reverse mortgage? What I have seen is that seniors are uable to sell their houses in this bad market and so take out a reverse loan. I wonder what happens to a young senior if they outlive their reverse mortgage?

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