reverse mortgage: Spread The Word - There Is A Reverse Mortgage Alternative For California Homeowners
- 12/18/09 06:26 AM
Financial Advisors, CPAs, insurance agents, real estate agents, estate planning attorneys, and in-home care providers in California need to know that there is a reverse mortgage alternative available. The reverse mortgage alternative is called Equity Access. Equity Access provides monthly income to homeowners above the age of 60 (the youngest homeowner must be at least 60) in return for a share of the future value of the home.
Here are some of the features: There are no closing costs to enter into an Equity Access Agreement No debt is incurred with an Equity Access Agreement The homeowner does not have … (3 comments)
Phil Caulfield is a Loan Officer with Prosperity Home Mortgage LLC. I have experience with many types of loans, such as conforming, jumbo, FHA, and VA. I have worked with all types of clients, ranging from first- time buyers to high net worth individuals.
As a mortgage banker, we are able to offer many different types of loan programs to meet the needs of a wide variety of clients.
For example, we offer programs with low down payment requirements, which can be attractive to first-time buyers.
We also can help clients who are having a difficult time qualifying with traditional income documentation by utilizing alternative documentation, such as bank statements, to qualify.
Interest-only loans have been attractive to high net worth clients. These type of mortgages give the borrower more flexibility in terms of allocating funds into financial vehicles they deem to be the most attractive.
The current mortgage landscape requires a tremendous amount of documentation and disclosure. My goal as a Loan Officer is to make the process as painless and as simple as possible. Having 30 years of experience has enabled me to anticipate the issues that may come up during the loan process. I work with my clients upfront to work through these issues so that the surprises during the processing of their mortgage are minimized.
I grew up, live, and work in Burlingame. Many of my clients, naturally, are from Burlingame and the surrounding cities such as Hillsborough, San Mateo, Foster City, and Millbrae. I am licensed in the state of California, so I can help people who want to buy or own property anywhere in the state.
Financial Advisors, CPAs, insurance agents, real estate agents, estate planning attorneys, and in-home care providers in California need to know that there is a reverse mortgage alternative available.
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