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arm: What Is The Best Reverse Mortgage Option For You, Fixed or Adjustable Rate, Lump Sum or Credit Line? - 01/26/12 06:13 PM
 
The most common and important discussion I have with my clients is regarding the payment plan and interest rate option.  Someone I’ve been talking with over the past 2 years announced she was ready to do the reverse mortgage and wants the most money she can get.  She stated very emphatically that she wanted the fixed rate with a lump sum draw.  So I suggested we talk further and I started asking questions. 
 
How long do you intend to stay in your home?  She felt five years was the maximum time she would live there as the home … (0 comments)

arm: FHA - HECM Saver Reverse Mortgage Really Does Save Money in Upfront Closing Costs! - 08/20/11 03:37 PM
 

It’s been almost a year since the HECM Saver came on the reverse mortgage market so I thought it was appropriate to write about my experiences with this program.  The HECM Saver is designed for senior borrowers who want to reduce the up front fees and in exchange take a lower line of credit, lump sum or monthly payments.  The up front mortgage insurance is reduced to .01% of the home value or maximum claim amount which is a drastic reduction from the standard 2.0%.  On a home valued at $600,000, the MIP goes from $12,000 to $60.  The … (2 comments)

 
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Maggie O'Connell

Livermore, CA

More about me…

American Pacific Mortgage - Reverse Mortgages

Address: 1548 Catalina Ct. Livermore, CA 94550, Livermore, CA, 94550

Office Phone: (800) 489-0986

Cell Phone: (800) 684-9438

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In this blog, I go into detail on reverse mortgage information through questions seniors and their families ask, industry news and current events, new program & rate options, client stories and experiences and more. From my 20 years experience as a reverse mortgage specialist, I can help guide and educate you and answer the question, is a reverse mortgage right for you and if so, what is the best option with lowest costs, interest rates and payment plan. I am easily accessible and will be happy to talk with you. Maggie O'Connell direct line 800-684-9438. American Pacific Mortgage maggie@rmstore.net www.RMStore.net Cal DRE# 01151456 #01215943 NV #45747 #164 NMLS #279499 #396955 #330948 #1850 Licensed by the Department of Corporations under the California Residential Mortgage Lending Act. Equal Housing Opportunity


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