Should I Get A Reverse Mortgage?

Подписаться 3,2 млн

Просмотров 49 тыс.

50% 1

Say goodbye to debt forever. Start Ramsey+ for free: bit.ly/35ufR1q
Visit the Dave Ramsey store today for resources to help you take control of your money! goo.gl/gEv6Tj
Did you miss the latest Ramsey Show episode? Don’t worry-we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch debt-free screams, Dave Rants, guest interviews, and more!
Want to watch FULL episodes of The Ramsey Show? Make sure to go to The Ramsey Show (Full Episodes) at: ru-vid.com...
Check out the show at 4pm EST Monday-Friday or anytime on demand. Dave Ramsey and his co-hosts talking about money, careers, relationships, and how they impact your life. Tune in to The Ramsey Show and experience one of the most popular talk radio shows in the country!
Ramsey Network (Subscribe Now!)
• The Ramsey Show (Highlights):
ru-vid.com...
• The Ramsey Show (Full Episodes): ru-vid.com...
• The Dr. John Delony Show: ru-vid.com?...
• The Rachel Cruze Show: ru-vid.com...
• Anthony ONeal: ru-vid.com...
• The Ken Coleman Show: ru-vid.com...
• The Christy Wright Show: ru-vid.com...
• EntreLeadership: ru-vid.com...

Опубликовано:

7 мар 2016

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 50

@anthonycapitan2148 6 лет назад

I wouldn't recommend a reverse mortgage for this lady. They could likely qualify for their new mortgage simply on the basis of their assets, and if they wanted they could keep their current home as a rental property and rent it out. However, it's interesting how little Mr. Ramsey seems to know about reverse mortgages, seeing what an outspoken critic he is of them. Not only can you get a (fixed interest rate) lump sum payment with a reverse mortgage. Alternatively you can get an adjustable rate line of credit, or even get a "HECM for purchase", which is a reverse mortgage specifically suited for purchasing a property. While it doesn't seem like this couple needs it, a HECM for purchase is a great option for some seniors who would like to downsize and eliminate their monthly mortgage payment.

@RichardWoodwardthemortgageguy 7 лет назад

Mr. Ramsey is incorrect. A reverse mortgage can be used for a purchase or a refinance. A lump sum can be drawn with a refinance.

@rlittlefield2691 7 лет назад

Correct

@Michael-ke8on 8 лет назад

Woo-hoo! Almost 100,000 subscribers! In Dave's voice: I LOVE IT!!! I love it, I love it! Very cool, very fun!

@DyingToLive1987 5 лет назад

He flat out lied on purpose you can see it in his face how can you trust somebody who just lied and posted a video of it and smiled as he did it

@greenearthblueskies8556 3 года назад

I know it’s is old...but What did he lie about ?

@dwetick1 6 лет назад

Lots of moving parts...Watch out! Because this a loan instrument, the loan company will always benefit before You, ( the person needing the loan). Before borrowing money from ANYBODY, borrow from yourself...then you can pay yourself back with interest.

@pimaggot 5 лет назад

Oooh all the reverse mortgage lenders are mad lol

@ThePeterDislikeShow 6 лет назад

This is why I prefer not to have so much personal stuff and to stay in shape. I would just live out of my car for a couple days if I were in between :)

@Mr9146GT 5 лет назад

I recommend for Mr. Ramsey to invite to his show a well informed and trusted 'Reverse Mortgage' expert that can educate Mr. Ramsey himself and his listeners on this sensitive, but very important topic. It does no one any good if we continue to cast doubt and ambiguity and bad information about reverse mortgages. Think of it this way. A 'reverse mortgage' is a financial tool, it offers solutions to many homeowners that are in dire situations, with limited income and cash-flow resources. A 'reverse mortgage' is NOT designed for everyone--you wouldn't use a hammer to drive a woodscrew into the wood, for that you use a screwdriver. I think I've made my point...

@LRF49 4 года назад

You know what else is a financial tool? High interest credit cards. Doesn't mean it's a good idea. If ever!

@smithraymond09029 7 лет назад

Been for sale for several years? Price is way too high or the seller is just testing the market.

@cgman7325 5 лет назад

Also the concept of contingency offer doesn’t work in the big cities. I have had experience of putting contingency offers in 5 different houses in 2018, and none of offers was even considered or even bothered to be looked at by the seller when he has 3 other offers. But I’m happy that it still works in some part of the country.

@robertb2744 4 года назад

A few things. You CAN get a large amount of money upfront with a reverse mortgage as many have pointed out. Also contingencies tend to make offers much weaker, putting the buyer at a disadvantage, especially if her house isn't even on the market yet! She would be in a MUCH stronger position to negotiate if she sold first and made a cash offer! Or at least get a temporary mortgage on the new property and pay it off when you she sells the old one.

@elmateo77 4 года назад

She should do a cash-out refinance on the current property, use the money to buy the new place, then after they move rent out the old one and use some of the rental income to cover the mortgage payments.

@jamese.vealecpambt8598 8 лет назад

Even though I strongly believe in reverse mortgages, Mr. Ramsey is right that a reverse mortgage does not make sense in this case due to its costs the expected short-term that this loan would be in place. However, the total costs of the bridge loan should be compared to see which makes more sense closer to the time of the downsizing. Certainly from a cash flow perspective, the reverse mortgage is better. However, Mr. Ramsey is wrong to say that reverse mortgages do not provide lump sum payouts because in fact they do. Today the lump sum payout could be limited by first year disbursements limitation but by the start of the second year, that limitation is gone. Also there could be other reasons for the caller to get a HECM due to the cash flow advantages it can provide when qualified plan assets are down due to temporary stock market conditions.

@kevinoverholtzer3126 6 лет назад

moving in five years call back later.

@brianellinger6622 6 лет назад

No... you should probably get me to come live with you and pay bills

@tedtalksreversemortgage1383 7 лет назад

This man does not know of what he speaks... be careful people, he is an entertainer, pedaling opinion as fact.

@rubiolamortgageformallyter7916 7 лет назад

Sure would like Dave Ramsey to educate himself more on the Reverse Mortgages. It can be taken as a lump sum, or line of credit or buy a new home. In Texas, we are the experts.

@dc76384 5 лет назад

Experts on stealing homes from seniors. No thanks.

@MrThiefHater 5 лет назад

Yea, no thanks. I fail to see how a reverse mortgage would be a better option than what Dave suggested.

@tofupower64 3 года назад

Yeah, experts on screwing old folks. Get outta here you slime ball.

@jistg8192 3 года назад

Dave is not educated on HECM loans. Lump sums are an option to help seniors with debt, medical expenses or purchase a new home, etc.

@Teeseeb 5 лет назад

Dave- you know nothing about reverse mortgages. It is so obvious.

@xxFairestxx 6 лет назад

Financial professionals don't dislike Dave because he is a threat to them. We dislike him because he knows just enough to be dangerous to his listeners. He is not a financial specialist and should not be looked at one as such. However, if you are in debt and need to learn how to spend your money, he is very good at teaching you how to budget and live within your means. Besides that? Do not listen to this man. He does not know what he is talking about. I do not make a commission on my clients. I am a fiduciary working for an RIA. Not all of us are scumbags. He does not understand the industry because he is not part of it.