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Pros and Cons of Reverse Mortgage | reverse mortgage cons – Reverse Mortgage Cons. The fees on a reverse mortgage are the same as a traditional FHA mortgage but are higher than a conventional mortgage because of the insurance cost. The largest costs are: fha mortgage insurance; origination fee; The loan balance gets larger over time and the value of the estate/inheritance may decrease over time.
Pros and cons of reverse mortgages for seniors – Clark Howard – Pros and cons of reverse mortgages for seniors. A reverse mortgage allows someone who is ‘house rich and cash poor’ to get a payment from their lender in exchange for the bank getting the equity in the house over time. It allows people stay in their homes and have their bank pay them to stay in their home.
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