Reverse Mortgages versus Negative Amortization

Reverse Mortgages are different than Negative Amortization in one fairly key point: In a Reverese Mortgage, your PAYMENT is also DEBT SERVICED by the "Negative Equity" payment...so you don't actually physically pay a Mortgage Payment every month... the payment is automatically drawn against your payment along with the full principal and interest (if you set it up that way). In a Negative Amortization loan you actually do make a Minimum Payment or "Start Rate" for "X" amount of years. Another key distinction is that Reverse Mortgages have an Age Minimum of 62 years old, loan to value guidelines and maximum loan amounts. They're Golden Years loans so that you can party hearty, take trips, see the family, live your life while keeping the house that you bought and living on the equity that you've put into it over the years. Do I have a Reverse Mortgage for you or your loved one? You betchya. Pat Townsley, keeping you in the pink. www.PTRE.net 415-485-1776.