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Regarding Reverse Mortgages, is it necessary to pay upfront the entire Mortgage Insur
This is a topic titled Regarding Reverse Mortgages, is it necessary to pay upfront the entire Mortgage Insur made in the Mortgage Talk section, belongs to our Mortgage Chat category; Regarding Reverse Mortgages, is it necessary to pay upfront the entire Mortgage Insurance Premium f...I was looking into a Reverse Mortgage with Bank of America HECM Reverse Mortgage. They ...
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| Members List | Search | Today's Posts | Mark Read |
October 21st, 2008, 12:20 PM
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| Senior Member Registered: Apr 2008
Posts: 1,497
|  Regarding Reverse Mortgages, is it necessary to pay upfront the entire Mortgage Insur Regarding Reverse Mortgages, is it necessary to pay upfront the entire Mortgage Insurance Premium f...I was looking into a Reverse Mortgage with Bank of America HECM Reverse Mortgage. They estimate my Closing costs to include $8400 for upfront Mortgage Insurance Premium (MIP) for the life of the loan. If I sell the house early they will not refund the unearned upfront MIP. Is this common practice.Also, can I just pay the MIP annually and not upfront!! |
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| Topic | Started By | Category | Replies | Last Post |
| how much equity is required for a reverse mortgage | Mike | Mortgage Talk | 0 | September 30th, 2008 11:23 AM |
| reverse mortgage | Mike | Mortgage Talk | 0 | September 5th, 2008 06:50 AM |
| I need a Reverse Mortgage of $1,000,000 | Mike | Mortgage Talk | 0 | August 4th, 2008 10:03 PM |
| A Reverse Mortgage For Your Retirement Years | Zino | Mortgage Articles | 0 | June 8th, 2008 10:43 AM |
| Reverse Mortgage: The Financial Aid for Seniors | Mike | Mortgage Talk | 2 | May 12th, 2008 06:52 AM |
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