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

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 … (0 comments)

 
Maggie O'Connell, Reverse Mortgage Purchase Specialist

Maggie O'Connell

Reverse Mortgage Purchase Specialist

Reno, NV

More about me…

Address: 675 Sierra Rose Drive #113, Reno, Nv, 89511

Office: (800) 684-9438

Mobile: 775-770-0870

In this blog, I go into detail on reverse mortgage information, through questions seniors and their families ask, industry news and current events, new programs; 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 800-489-0986 maggie@rmstore.net www.ReverseMortgageStore.com NMLS #279499 Equal Housing Opportunity/ 411500


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