Lizzie Borden (via Diana Grazia): "More redistribution of wealth from the middle-class to the 1%. The big dirty secret is that reverse mortgages are nothing but a no-risk gift to the bankers, a wealth transfer engine from the masses to a select few. When the "owner" of the home dies, the GOVERNMENT pays the BANK any difference between the amount owed (interest plus principal) less the sale price of the home. If the heirs want to keep the home, they must pay the loan off in full. If the amount owed is more than the value of the home, the heirs must pay 95 percent of what is owed to the bank with the government paying the rest. What is the reason for the bank (even) BEING in the transaction? It is there simply to extract from the government and the homeowner. They have absolutely NOTHING AT RISK for the profits they make." (So now you know why they run SO MANY TV commercials, and what BOTTOM FEEDERS those "front-men" are who are doing the HUCKSTERING !)
Posted on: Thu, 22 Aug 2013 00:50:40 +0000
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