Senator McCaskill On Reverse Mortgages
Senator McCaskill discusses whether or not lenders have the best interest of seniors in mind.
Shannon Hicks
Shannon Hicks - Shannon is the President of Reverse Focus, Inc. He draws from his experience as a reverse mortgage originator and prior work in the financial services industry. Shannon has been covering reverse mortgage news stories since 2008 when he began podcasting and in 2010 with weekly video updates. He has spoken nationally at industry events and is host of the nation’s only weekly podcast for reverse mortgage professionals “Reverse Focus Weekly”. For more information, call 1.800-805-9328 x 3-3 or visit www.ReverseFocus.com .
1 comment
first how did that lady in MO. get a reverse mortgage and not finish the roof. what kind of reverse mortgage did she get? LUMP SUM, LOC, or MONTHLY TENURE? also how did it eat up her equity. there is usually equity in the home for 15-20 years according to the Amortization.
Second isn’t any risk covered by the insurance that FHA asks for? isn’t that the whole purpose of MIP. the cost is usually high and a 1.25% is also charged. what is this about the tax payers having to cover any overage?