Before You Get a Reverse Mortgage of Any Kind,consider That

question 33

Multiple Choice

Before you get a reverse mortgage of any kind,consider that:

• A)there are origination fees,closing costs,servicing fees,and mortgage insurance premiums
• B)interest rates may change over the life of the mortgage
• C)you are still responsible for property taxes,insurance,utilities,and maintenance expenses
• D)you may leave fewer or no assets for your heirs
• E)All of these should be considered.

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Definitions:

Password

A secret word or phrase that is used to gain access to an account or system, providing a level of security against unauthorized access.

SUMIFS

A function in spreadsheet software that sums the values in a range based on multiple criteria.

SUMIFS

A function in Excel that adds the cells specified by a given set of conditions or criteria.

Precedents

In computing, refers to cells in a spreadsheet that affect the formula in another cell; in law, it refers to previous court decisions that guide future cases.