Disclosures for reverse annuity mortgage?

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Question:

Do any programs exist which would calculate the total cost and/or APR of a reverse annuity mortgage?

Answer:

I am not aware of any calculation tools other than the ones that may be incorporated in document generation systems. Since Section 226.33 went into effect in 1995, APR Systems, Inc. has received fewer than 5 requests for this type of software.

First published on BankersOnline.com 8/29/05