Bank of America Reverse Mortgages

Reverse Mortgage Loan Products and Services from BOA

Reverse mortgages are a relative new business for Bank of America. In 2007 BOA bought out Reverse Mortgage of America and absorbed its hefty reverse mortgage business into the BOA home equity division. Now the Bank of America reverse mortgage business is one of the more vigorous in the nation.

Bank of America offers senior customers two...

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Website: http://www.reversemortgage.net

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What is a Reverse Mortgage | Do You Dave Ramsey?

Mortgage Insurance Premium - One� Time Fee: 2% of home value at initiation

Mortgage Insurance Premium - Annual Fee: 1.5% annually of outstanding loan amount

Also layered into the requirements for Reverse Mortgages is the provision that you must first repay any outstanding traditional mortgages with the initial proceeds from your Reverse Mortgage.� The effect is that you are refinancing your...

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Website: http://doyoudaveramsey.com

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