Reduced Fees for Reverse Mortgages

Consumers have been recently finding out that reverse mortgages are offering more options than ever before.  At one time, there was only an adjustable rate reverse mortgage program available, but in the last few years a competitive fixed rate program was introduced.  And recently, a new program called the Saver is giving the option to take lower closing costs in lieu of a lower cash benefit.  For some seniors, this will make sense as they may not need as much cash out that is offered by the Standard reverse mortgage program. 
A reverse mortgage professional should be prepared to explain the differences and help consumers determine which program will benefit them the most.

In any event, one must ask themselves the question:  "The costs of a reverse mortgage are too high as compared to what?"  For many, the only other alternative is to sell the house and buy a new one, which is much more costly when you factor in all the costs to sell and buy a home. 

Contact a reverse mortgage professional today to learn more about your options.