If you have an existing loan through one of the major banks, chances are you’re being charged a monthly fee of $10 or $12. This is an absolute scandal!  

These fees will quickly attract interest and you’ll eventually be charged compounding interest on bank fees. Outrageous.  If you go with a lender who charges monthly fees , over the life of the loan you’re likely to pay many thousands of dollars in unnecessary interest.

Are you paying too much? Check your loan here. 

This entry was posted on Thursday, March 27th, 2008 at 10:05 pm and is filed under Reverse Mortgage Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.