A Quote by Suze Orman

A reverse mortgage is available to anyone who is at least 62 years old and owns a home outright, or has a small mortgage balance remaining.

Suze Orman

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Anyone Available Balance Home Least Mortgage Old Outright Owns Remaining Reverse Small Years

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Suze Orman
American - Author
Born: June 5, 1951

While a reverse mortgage can indeed be a viable way to generate income, it is very important to understand that after you take out a reverse mortgage, you will still be responsible for paying the property tax, the insurance premium, and all the maintenance costs for your home.

Suze Orman

If you pay off your mortgage before retirement, you take a huge financial load off your shoulders. You also become eligible to take out a reverse mortgage once you turn 62.

Suze Orman

Poverty is not a mortgage on the labor of others-misfortu ne is not a mortgage on achievement-fai lure is not a mortgage on success-sufferi ng is not a claim check, and its relief is not the goal of existence-man is not a sacrificial animal on anyone’s altar nor for anyone’s cause-life is not one huge hospital.

Ayn Rand

Some financial advisers say anyone who may move in less than seven years should not take out a reverse mortgage.

Charles Duhigg

Because the fees associated with a reverse mortgage are high, such loans make sense only for borrowers who expect to live in their home for a number of years.

Charles Duhigg

The same with the mortgage brokers that were selling people mortgages they couldn't afford. We shouldn't pay them on each mortgage they write. They should have what they call "skin in the game," where they've got to reimburse us if the guy who sold the mortgage defaults.

Richard Thaler

If you can't afford the upkeep of your home, it makes no sense to do a reverse mortgage. You will just end up having to sell eventually when you realize you can't afford the home, and whether you have any equity left after the sale depends on the size of the reverse loan that must be settled.

Suze Orman

No one pushed harder than Congressman Barney Frank to force banks and other financial institutions to reduce their mortgage lending standards, in order to meet government-set goals for more home ownership. Those lower mortgage lending standards are at the heart of the increased riskiness of the mortgage market and of the collapse of Wall Street securities based on those risky mortgages.

Thomas Sowell

Except for a handful of banks that just keep a handful of their loans in portfolio, on their balance sheet, every other loan that's originated in the United States - whether from a bank, mortgage company, mortgage broker - is sold into the secondary market.

Dan Gilbert

We will not, on the altar of money, mortgage our conscience, mortgage our faith, mortgage our salvation.

Peter Akinola

Unlike other loans, a reverse mortgage doesn't have to be repaid until the borrower moves out of the home or passes away.

Jean Chatzky

A lot of people in the USA probably don't understand how important they are to the mortgage markets. And it's really important for people to have confidence in the mortgage markets and that there be stability in the mortgage markets.

George W. Bush

American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.

Alan Greenspan

Ask most people who live in a home and have a mortgage on it whether they own their own home and the answer is almost guaranteed to be a resounding 'yes'. Yet it's the wrong answer. Technically speaking, until they have paid the mortgage off, they don't own it. Herein lies the difference between reality and illusion, between ownership and control. This confusion lies not only at the individual level, but also at the heart of government thinking.

Dambisa Moyo

Both HUD and the Department of Justice began bringing lawsuits against mortgage bankers when a higher percentage of minority applicants than white applicants were turned down for mortgage loans. A substantial majority of both black and white mortgage loan applicants had their loans approved but a statistical difference was enough to get a bank sued.

Thomas Sowell

Redlining went beyond FHA-backed loans and spread to the entire mortgage industry, which was already rife with racism, excluding black people from most legitimate means of obtaining a mortgage.

Ta-Nehisi Coates

A Quote by Suze Orman

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