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nevada: Do you need your investments to perform better or a reverse mortgage? - 05/27/12 12:22 PM
Do you need your investments to perform better or a reverse mortgage?
A recent article in the Wall Street Journal tells us it doesn’t matter if your investments perform well…. most retirees don’t have enough savings to matter. Author Tom Lauricella goes on to say that home equity is still most people’s largest asset and with the help of a reverse mortgage it can make up for their shortfall in investments.
Read the full article: Savings Fall Short for Most Retirees
There are various strategies in utilizing home equity with reverse mortgages to supplement retirement income. … (2 comments)
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nevada: How to Structure Public Assistance (Medicaid, Medi-Cal and SSI) with Reverse Mortgages - 04/10/12 05:45 AM
If you are looking into supplementing your retirement income through a reverse mortgage and you are on Medicaid (Medi-cal) or Supplemental Security Income (SSI) or want to maintain eligibility for these programs in the future, it is important to understand these service’s asset limitations. The reverse mortgage must be structured properly so you can receive the benefits of these need’s based programs and at the same time, receive the benefits of the reverse mortgage.
Reverse Mortgage proceeds can be received in various ways, through a lump sum, line of credit, monthly payment or a combination. Since the reverse mortgage … (0 comments)
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nevada: American Pacific Mortgage Awared #31 Top Mortgage Company in America - 04/01/12 03:22 PM
I’m proud to work for a top mortgage company in the USA! We were recently awarded #31 by Mortgage Executive Magazine among the top 100 Mortgage Lenders. Click here to view the full list: top 100 lenders
… (0 comments)
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nevada: Who to Choose For Your Reverse Mortgage Lender - 03/17/12 05:35 PM
This short video set on a snowy day describes who Maggie O'Connell is and how she helps senior homeowner's understand reverse mortgages and go through the reverse mortgage loan process.. … (1 comments)
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nevada: Reverse Mortgages Really Can Be Low Cost Despite What You Read! - 01/19/12 04:33 PM
If you get your education on reverse mortgages from what you hear in mainstream news, you are missing out on a very important fact. Reverse mortgages are not expensive. The media loves to tell you that it is a program of last resort and the costs are too high, but in reality, reverse mortgages can have lower cost than conventional loan programs. The HECM Saver option was introduced recently and it really does save a lot of money in upfront costs. It makes sense to do a reverse mortgage even if it's a relatively short time frame you are looking at. … (0 comments)
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nevada: Set Realistic Dreams for Reverse Mortgage Purchases - 07/31/11 07:20 PM
What is best, keeping hopes and dreams alive that are unrealistic or knowing what is possible and realistic up front? It’s easy to agree that not wasting time, energy, emotions and money on a transaction that is unrealistic is the sensible thing to do.
But it happened again…. A couple came to me after spending almost three months pursuing a short sale purchase on the home of their dreams. The seller’s lender for the short sale finally agreed to their offer and the first reverse mortgage rep assured them their dream home was within reach. After the rep was unable … (3 comments)
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nevada: Why Real Estate Agents Need to Know Reverse Mortgage Purchase Guidelines - 06/02/11 09:20 AM
I see it all the time, a buyer tells their agent they want to make an offer on a home and they plan to use a reverse mortgage for the financing. The agent writes the offer as usual without considering the special requirements for the reverse mortgage. In this most recent example, six weeks went by before the buyer came to me for help. They were working with a national reverse mortgage lender who didn't even know the guidelines! What he learned was, their as-is offer would never work! Six weeks waisted!
The reverse mortgage purchase program allows senior homeowners … (4 comments)
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nevada: Reverse Mortgage Rates Lower! Fixed Rate - 4.5% Variable Margin 1.75% - 05/24/11 04:29 PM
Rate Update on 4-3-11: The Fixed Rate is now 4.5% and the variable margin is 1.75%. These rates carry origination fees.
It's pretty hard to believe that you can get a fixed rate reverse mortgage for 4% interest rate but it's true! Now is a great time to get a reverse mortgage, especially if you have a home valued above the fha maximum claim amount becuase the max claim is currently $625,500 and scheduled to go down to $417,000 on October 1st. So with the incredibly low interest rates and high lending limits, make sure you don't miss this opportunity … (5 comments)
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nevada: Reverse Mortgage Seminar Schedule for Reno Nevada - Reverse Mortgage Purchase Education - 05/17/11 07:00 PM
I will be hosting seminars the first Thursday of every month beginning on July 7th, 2011 and continuing through the year. Two sessions are scheduled, 10:00 am and 2:00 pm. Refreshments will be served.
If you own a home you may want to get rid of mortgage payments, or generate monthly payments or a line of credit and free up your cash to make life more comfortable. Learn how safe and inexpensive a reverse mortgage really is!
This is a great way for seniors interested in purchasing a home using a reverse mortgage in Reno, Sparks, Incline Village or Communities such … (6 comments)
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nevada: Reverse Mortgage Client Testimonial - 04/08/11 06:28 PM
Maggie O'Connell just helped my wife and I secure a reverse mortgage for her mother. Service was above and beyond anything we could have expected. Our particular situation was very complicated, as the property was in trust and was zoned commercially .
Three other brokers had failed to secure a loan for us. Maggie never gave up! Even after being rejected by one lender, she stuck with it and found another willing to do the loan.
All fees, rates, and options were clearly explained, and the process progressed smoothly and quickly. Communication throughout the process was outstanding, with Maggie always replying … (4 comments)
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nevada: How To Fund In Home Care for Seniors at a Low Cost - HECM Saver Reverse Mortgage - 03/13/11 07:29 PM
It’s happening more frequently. A son, daughter, nephew, conservator or guardian calls looking for solutions for keeping an elderly person in their home for as long as possible and preferably for their lifetime. The all have one goal in mind, to provide the best quality of life as possible for their loved one or client. Keeping them in their home helps attain that goal. Recently I received that call from a woman who was power of attorney for her elderly mother who was living much longer than anyone expected. The reverse mortgage was a perfect option as she could live in … (5 comments)
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nevada: Reverse Mortgage Purchase Transactions Requires Professional Help! - 02/11/11 07:41 PM
I received a call early this morning, a woman was on the phone asking specific questions about the reverse mortgage purchase program. She was a real estate agent, asking questions about repairs and if they would be they required to be completed prior to closing and who is allowed pay for it. She told me it was some minor items needed to get the air conditioner and water heater working properly. I told her, yes, the operating functions of the house must all be working properly prior to closing and the buyer / reverse mortgage borrower cannot pay for it… then … (1 comments)
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nevada: How the Housing Recovery Act, HR 3221 helps senior homeowners through FHA Reverse Mortgages - 08/17/08 05:38 PM
The housing and credit crisis of 2008 doesn’t limit its impact to speculators and risk takers. Senior homeowners have also been impacted. Home equity represents a large portion of net worth for the older set. Often, people sell their family home and downsize after retirement. But, in many areas of California and Nevada with home prices realizing dramatic reduction as we enter the fall of 2008, selling a home at this time may not be a good option or may not be an option at all! That’s where the reverse mortgage comes in. You can stay in your home, pull cash … (6 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
Email Me
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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