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senior: Can you get a reverse mortgage when your home is paid off? - 03/04/12 09:53 PM
This is a question I am asked on occasion and it catches me by surprise every time because it seems to be such a basic part of reverse mortgages. That is, tapping equity to use in retirement. But it reminds me also that reverse mortgages remain a mystery to some.
A reverse mortgage is wonderful for people who don’t have an existing mortgage. Since you don’t have a mortgage to pay off, there are more available funds to you in a line of credit or monthly tenure or term
payments.
Remember, a reverse mortgage is structured like a regular mortgage in … (1 comments)
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senior: 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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senior: What Exactly Is A Reverse Mortgage & Do I Qualify? - 08/21/11 03:04 PM
First, let’s review a standard ‘forward’ mortgage. You borrow money and promise to pay it back (typically monthly & amortized over 15 to 30 years). You allow a Deed of Trust to be recorded against your property as a security instrument. The deed of trust allows the lender to foreclose if you don’t pay according to the terms. A reverse mortgage works exactly the same except the terms of how the loan is paid back is different. Instead of making monthly payments, you let the interest accrue onto the loan balance. You agree to pay the lender when you move away … (9 comments)
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senior: 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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senior: Low Cost Reverse Mortgage Now Zero 0 Origination Fee for Fixed Rate 4.99% - 04/27/11 01:48 PM
Pricing has improved on the Fixed Rate HECM Reverse Mortgage and we are now able to offer the 4.99% rate with no origination fee. (request APR) This pricing will not last forever, so if you are a Senior homeowner, at least 62 years of age and interested in getting a reverse mortgage, now is the time!
Call Maggie O'Connell 800-489-0986 American Pacific Mortgage (Specializing in Reverse Mortgages for 18 years!)
email: maggie@rmstore.net
Cal DRE # 01215943 / 01151456 NMLS # 1850 / 279499 Nevada Lic. # 168 & 45747 Equal Housing Lender
www.ReverseMortgageStore.com … (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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