Pete Theisen wrote: > Michael Madigan wrote: >> I haven't read the bill, but my sense is that only the scumbags will get >> bailed out and the little guy will lose his house. What incentive do the >> banks have in renegotiating a mortgage? > >>> The only good thing about the bailout is that the taxpayers >>> are buying assets through the borrowing. Those mortgages do have some >>> value. >>> >>> If more people can keep their homes too, so much the >>> better. > > Hi Michael, Krystyne! > > I have read everything I can find on it. I don't see anything for the > hapless homeowner. The banks take the bailout money and foreclose the > mortgage as well, if that isn't a double dip . . .. > > Steve is at least 62? Get a Reverse Mortgage and don't have to pay > payments any more? At least, as long has he lives. Big balloon if dies > before you do, though.
If Steve lives until you are 62 yourself, the Reverse Mortgage would do it. Don't know if there is a limit on size of Reverse Mortgages, though. Your property sounds like it is over a million. Of course, adjusted for inflation that is only 10K in real money, perhaps less. -- Regards, Pete http://pete-theisen.com/ _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
