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seniors: 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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seniors: Have You Prepared Your Power of Attorney Document? - 05/18/12 06:38 AM
Have You Prepared Your Power of Attorney Document?
It's very important to have in place, a Durable General Power of Attorney for financial transactions in the event you become incapacitated. Many families are now assisting their aging parents in finding ways to pay for in-home care. A natural place to look for the money to pay for home care is home equity. An excellent tool to tap into that equity is a reverse mortgage. But if the aging parent is not of sound mind and cannot make financial decisions on their own, a previously executed power of attorney will … (0 comments)
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seniors: 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)
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seniors: HECM Lending Limits to Remain at $625,500 Through 2012 - 12/02/11 03:55 PM
We received great news from HUD that the HECM Lending Limits will remain at the high level of $625,500 through 2012. This means that seniors with high value homes can receive a percentage of their home value, up to $625,500. If the home appraises for more than that amount, we will use $625,500 as the home value and provide reverse mortgage funds based on the age of the youngest homeowner. The minimum age for a reverse mortgage is 62 years old and the older you are, the higher principal limit or amount of funds is available. There are no payments required … (0 comments)
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seniors: Realtors and Builders! You need to know about Reverse Mortgages for Purchase! - 07/21/11 10:17 AM
How would you like to increase the number of your potential buyers dramatically? You can if you understand how reverse mortgages for home purchase works. Identify and inform Seniors about this product that doesn't rely on income to qualify and spread the word, you will increase sales! Seniors want to preserve as much cash as they can for retirement and this financing option allows them to keep at least 50% of the home sale price in the bank and minimize monthly cash flow because they will not have to make mortgage payments. Your knowledge in this area will be appreciated by … (5 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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