· Borrowers who had a mortgage serviced by Wells Fargo between May 6, 2005 and July 1, 2010 will soon receive their share of a $50 million settlement stemming from allegations that Wells Fargo.
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Cindy Meyers, a reverse mortgage specialist with Wells Fargo in Winter Park, Fla., said that if a refinance is not in the cards, your buddy should contact an estate planner or elder-law attorney for.
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Reverse Mortgage Calculators’ such as the AARP reverse mortgage calculator help you to find out the amount of money you can raise against your home if you are 62 years or older, this is a different kind of mortgage aimed primarily at Americans who have retired and have some equity in their home that they want to release in order to make life a little more comfortable for themselves financially.
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Now that major banks including Bank of America, Wells Fargo, and MetLife Bank have eliminated fees for reverse mortgages. ensure that you do not lose benefits. The best advice: Do the numbers..
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In the video segment below, Motley Fool analysts Kristine Harjes and nathan hamilton talk about one downside of these low-down-payment loans: private mortgage insurance (PMI), which will cost you.