Re: Politics for the s5tupid 4 ticks

On 3/7/2024 6:50 PM, sms wrote:

On 3/7/2024 2:27 PM, Jeff Liebermann wrote:
 <snip>
 

There's also a reverse mortgage.  Tom might have already done that in
2011.  Between 02/17/2010 and 10/23/2011, the house was listed for
sale.  The final entry was "listing removed" which means it didn't
sell.

 Possible, but unlikely, that he would fall for the reverse-mortgage scam.

wait...you remember this is kunich we're talking about...the guy who thinks there was no recession before obama took office and thinks the secretary of the treasury directs the chairman of the fed.....is unlikely to fall for a financial scam?
Setting aside that imo tommy is probably the _most_ likely person in this forum to get scammed, I don't think reverse mortgages are any more susceptible to fraud or mismanagement than any other mortgage-type of financial tool. Certain types of reverse mortgages are sponsored and guaranteed by the government.
https://www.forbes.com/advisor/mortgages/reverse-mortgages/

 Banks are so picky right now that they're not going to lend a lot of money to someone with no job, no assets other than some home equity, and only income from Social Security.
 

Actually, someone with no job, no assets other than some home equity, and only income from Social Security are exactly the demographic that reverse mortgages target, especially those run by less reputable companies.
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