reverse for purchase: Writing The Offer on HECM For Purchase - 01/20/11 01:16 PM
Using a reverse mortgage to buy a home is still a relatively new thing for Realtors and Buyers and there are some important things you can do upfront to help make things go smoother and easier. Contact your buyers' reverse mortgage consultant to discuss how to write up the offer.  Here are some things to talk about.  Since a reverse is an FHA transaction, structure your offer that way using the pre-printed FHA checkboxes, clauses and Addendum.  You will need to have all parties (buyer, seller and agent) sign the FHA Amendatory Clause.Be sure that they have already completed their HUD HECM … (0 comments)

reverse for purchase: Hemet Reverse Mortgage Question - How does a Reverse For Purchase Work? - 12/11/10 07:51 AM
Buying a home in Hemet with a reverse mortgage is not too much different than buying a home with any other financing.  There are some differences, but the basic thing to keep in mind is that the bank will be making a loan on the property and the buyer has to come up with the difference between the loan amount and the home price.  FHA  Reverse mortgages use a different formula to figure out how much of a loan your buyer can get on a property.  They do not use the basic 80% Loan To Value that you see in typical … (1 comments)

 
Deborah B. Nance, Reverse MortgageExpert~Temecula Murrieta Menifee Hemet (Purchase or Refinance With A Reverse Mortgage)

Deborah B. Nance

Reverse MortgageExpert~Temecula Murrieta Menifee Hemet

Temecula, CA

More about me…

Purchase or Refinance With A Reverse Mortgage

Address: Temecula, CA, 92592

Office: 800(486) 878-6884

Mobile: (951) 283-2983



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