Fri, Aug 22, 2014, 11:20 PM EDT - U.S. Markets closed

Recent

% | $
Quotes you view appear here for quick access.

Pfizer Inc. Message Board

  • alanisstillhere alanisstillhere Oct 15, 2012 9:25 PM Flag

    Reduced competency elders losing their homes to reverse mortgage scams.

    Of course in Alan's case, the reduced competency kicked in at birth, not after age 70. From Yahoo Finance News:

    risky-lifeline-elderly-costing-homes

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • The FHA/U.S. government reverse mortgage is a fabulous program for many seniors including myself. Before such a mortgage is finalized, the government MANDATES that there is free telephonic counseling from a disinterested third party financial consulting firm.

      The only drawbacks to the program are that there are hefty up-front fees paid to the FHA ($12,600 in my case - which was the maximum). Property taxes must continue to be paid and there must be homeowners' insurance. Nothing adverse happens if the senior continues living in the home for at least half the year. In case of death or a move to another residence or institution, the house will be sold and the senior will receive whatever equity there may be. And that's about the size of it.

      Sentiment: Buy

 
PFE
28.92+0.10(+0.35%)Aug 22 4:00 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.
Keurig Green Mountain, Inc.
NasdaqGSFri, Aug 22, 2014 4:00 PM EDT
Salesforce.com, Inc
NYSEFri, Aug 22, 2014 4:00 PM EDT