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65 year old or older borrowers can now get cash out of NON-principle resident properties

By Rose Thomas

Mortgage and Lending with American Pacific Mortgage

February 25, 2008 11:41 AM

ATTENTION: Seniors age 65 - 85

Receive 12-30% of Your Home’s Value ($60,000 - $1,000,000)*

NO DEBT / NO PAYMENTS / NO INTEREST

This is the an opportunity for you to convert the unknown and volatile appreciation of your real estate into dependable income today…without going into debt! There are dramatic differences between this product and reverse mortgages.

Benefits:

No closing costs—just a simple application fee
No income requirement • Property can go to your heirs
Eligible properties: primary residence, rental, commercial, or second home.

*Qualified applicants only.

Rose Thomas
831-625-7979

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Robert Huntsinger

Empire Realty - Upland, CA

Empire Realty Upland, CA - Full Service at a Discount

OK Rose,

You peeked my interest, if it is not a reverse mortgage what product does it resemble?

Take care!

RJH

Feb 25, 2008 11:51 AM

Rose Thomas

American Pacific Mortgage - Carmel, CA

NMLS 274950

It is an future equity share option. The investor gives the owner money up front in order to have the option to purchase the property if the owner chooses to sell or passes away. Then the investor gets 1/2 the equity from the time of the appraisal to the time the home sells. There is a little more to it but it is a very fair option for those needing cash out of a commercial, rental, 2nd home or other unique properties. It is not a loan and can be even a better option to a reverse mortgage in some cases.

The investor will value the property by taking the average of an appraisal they obtain and that the owner obtains. We can also give a referral fee to real estate agents of 25% of our commission. It is a very cool product that can fill a void for these seniors.

Please let me know if you have any other questions!

Rose

Feb 25, 2008 12:02 PM

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Rose Thomas

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